If the price level of U.S. goods is 200, the price level of foreign goods is 125, and the dollar price of foreign currency is 1.20, what is the real exchange rate
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An exchange rate is the value of one nation's currency versus the currency of another nation or economic zone. For example, how many U.S. dollars does it take to buy one euro? As of July 31, 2020, the exchange rate is 1.18, meaning it takes $1.18 to buy €1.1
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