0
How does the real exchange rate work with standard of living of a country.If the standard of living of a country is more compared with other country how can it be termed interms of real exchange rate?
Wiki User
∙ 16y ago
The real Exchange rate excludes the effects of inflation in the increase in exchange rate so if there is a lot of difference between real and nominal (real << nominal) the standard of living is deteriorating in the country.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
The value of one's country's currency as compared to another country's currency?
Floating exchange rate
What is an exchange rate used for?
An exchange rate if the value of currency of one country compared to that of Another Country. For example, it would be the value of a US Dollar measured by the value of Mexican Pesos.
What is the value of currency in one country compared with the value of currency in another?
This is called the Exchange Rate. You can look up exchange rates in newspapers, or in the internet.
Why are exchange rates necessary?
Exchange rates determine the amount of imports and exports for a country. Depending on a naitons currency compared with a foriegn currency, countries may or may not want to trade with that nation.
What is the monetary system?
Medium of exchange: anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
The value of one's country's currency as compared to another country's currency?
Floating exchange rate
What is an exchange rate used for?
An exchange rate if the value of currency of one country compared to that of Another Country. For example, it would be the value of a US Dollar measured by the value of Mexican Pesos.
What does citizen?
citizen-means that you are loyal to your country and that you were probably born in that countrycitizen is when you are from Another CountryIf you are born in America, you are a citizen of America. If you're born in Japan, you're a citizen of Japan. Get it?
What does citizen means?
citizen-means that you are loyal to your country and that you were probably born in that countrycitizen is when you are from Another CountryIf you are born in America, you are a citizen of America. If you're born in Japan, you're a citizen of Japan. Get it?
What is the value of currency in one country compared with the value of currency in another?
This is called the Exchange Rate. You can look up exchange rates in newspapers, or in the internet.
Why are exchange rates necessary?
Exchange rates determine the amount of imports and exports for a country. Depending on a naitons currency compared with a foriegn currency, countries may or may not want to trade with that nation.
What is the monetary system?
Medium of exchange: anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
What is exchanged rate used for?
An exchange rate if the value of currency of one country compared to that of Another Country. For example, it would be the value of a US Dollar measured by the value of Mexican Pesos.
Which has a higher standard of living is it Pakistan or Zambia?
Pakistan generally has a higher standard of living compared to Zambia. Pakistan has a larger economy, higher GDP per capita, and more developed infrastructure compared to Zambia. However, there are varying factors that can affect the overall standard of living in each country.
Is Armenia a poor country compared with the US?
Compared to US yes, but compared to the world it is an average country with a high standard of living. Armenia HDI is at 76th compared to 210 countries. The average GDP per capita is about $5.500 however the cost of living there is cheaper as almost 95% of the populations owns their house and is fully paid off!
A country with an undeveloped industrial base low or medium human development and a low standard of living is an example of a country?
An example of a country that fits this description is Haiti. It has a low industrial base, low human development indicators, and a low standard of living compared to many other countries in the world.
How much is English money compared to American money?
It depends which American money you mean. Each country has its own currency. Check the link below for current exchange rates.
