Suppose that an Apple iPhone costs $240 in the United States, £60 in the United Kingdom, and ¥35,000 in Japan. If the exchange rate between the pound and the dollar is $1.80 = £1, the real exchange rate between the pound and the dollar is. (Enter your response rounded to two places.)

Suppose that an Apple iPhone costs $240 in the United States, £60 in the United Kingdom, and ¥35,000 in Japan. If the exchange rate between the pound and the dollar is $1.80 = £1, the real exchange rate between the pound and the dollar is. (Enter your response rounded to two places.)

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter22: International Finance

Section: Chapter Questions

Problem 10QP

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Suppose that an Apple iPhone costs $240 in the United States, £60 in the United Kingdom, and ¥35,000 in Japan.
If the exchange rate between the pound and the dollar is $1.80 = £1, the real exchange rate between the pound and the
dollar is (Enter your response rounded to two places.)

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