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Problem Set #4

1. Because of sanctions over their involvement in Ukraine in 2014, the Bank of Russia has raised its benchmark interest rate from 8% to 9.5%. What affect does this have on the exchange rate for the Russian Rubble versus the Euro?

2. After staying around 1.35 US dollars per Euro for years, the exchange rate fell below 1.25 US dollars to a euro during the summer of 2014. What affect does this have on tourism in Europe?

Prof. Angela

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