michaelscarn69
Answered

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25 POINTS EACH!
5. You buy certain supplies in Nearland. Last year, the currency
exchange rate was 1 USD = 3 NRD. Are these supplies more or
less expensive to buy now than last year? Explain your answer
in complete sentences.
(The currency now is 1 USD = 5 NRD) thanks :)

Sagot :

imawolf

Answer:

It would be more expensive to buy now than last year.  Because now, this year, you would need more of their money to buy their supplies due to inflation.

good luck, i hope this helps :)

Answer:

The purchasing power declined due to change in exchange rate now because to inflation, you'll need more of their money this year to buy their goods.

Explanation:

Inflation

In economics, inflation is defined as an increase in the overall price of goods and services in a given economy. When the general price level rises, each unit of currency buys fewer products and services, resulting in a loss of purchasing power.

Learn more about Inflation here

https://brainly.com/question/777738

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