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Sagot :
Based on the information given the nominal exchange rate is 3/5.
Given:
Real exchange rate=1.5
Price(United state)=$50 per ton
Price(Britain)=20 pounds per ton
Hence:
1.5 = Nominal Exchange rate ×50/20
Nominal Exchange rate = 1.5 × 20/50
Nominal Exchange rate = 30/50
Nominal Exchange rate = 3/5
Inconclusion the nominal exchange rate is 3/5.
Learn more about nominal exchange rate here:https://brainly.com/question/20388832
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