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17 May, 16:59

If the exchange rate is 8 moroccan dirhams per u. s. dollars, a crate of oranges costs 400 dirhams in the moroccan capital of rabat, and a similar crate of oranges in miami sells for $55 dollars, then

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  1. 17 May, 19:48
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    the real exchange rate is greater than one and arbitrageurs could profit by buying oranges in Morocco and selling them in the U. S.
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