Distinguish between nominal exchange rate and real exchange rate.

Question

17 Oct 2021

Answer :

Word Count : 364

Nominal Exchange Rate:
The nominal exchange rate is the rate at which one country's currency can be exchanged for another country's currency. It represents the relative value of two currencies and is expressed as a direct exchange rate, such as how many units of one currency you can get for one unit of another currency. For example, if 1 US dollar can be exchanged for 110 Japanese yen, the nominal exchange rate between the US dollar and the Japanese yen is 110.

Real Exchange Rate:
The real exchange rate, ___ ______ ________ ______ _____ ______.
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