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June 10, 2008
Suppose that the average price of goods in Europe rises from 100 in the year 2000 to 130 in the year 2010. Suppose that the average price of goods in the United States rises from 120 in the year 2000 to 140 in 2010. Suppose that the exchange rate in 2000 was 1 euro per dollar. If purchasing power parity held in 2000, what would purchasing power parity predict for the exchange rate in 2010?
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If the currency-to-deposit ratio is 0.3, the reserve-to-deposit ratio is 0.2, and the amount of currency in circulation is $540 billion, then the money supply is equal to what?
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