Class Notes (838,386)
Canada (510,872)
Economics (1,617)
ECON 1BB3 (535)
Lecture

Nominal exchange rate:

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Department
Economics
Course
ECON 1BB3
Professor
Bridget O' Shaughnessy
Semester
Fall

Description
Nominal exchange rate: the rate at which you can exchange one currency for another “e” how much foreign currency you can buy with one Canadian dollar E goes up $CAD appreciates (stronger) E goes down $CAD depreciates (weaker) Real exchange rate: the rate at which you can exchange goods and services between countries RER = (nominal er x domestic price) / foreign price Purchasing power parity: a unit of currency should buy the same quantity of g
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