| 模型 | 模型答案 | 正确答案 |
|---|---|---|
| 金声玉亮2.0 | 要计算实际汇率（Real Exchange Rate），我们需要以下步骤： 1. **收集名义汇率**：2010年和2019年的名义汇率。 2. **收集消费者价格指数（CPI）**：2010年和2019年印尼和美国的消费者价格指数。 3. **使用公式计算实际汇率**： \[ \text{实际汇率} = \text{名义汇率} \times \left(\frac{\text{CPI}_{\text{US}}}{\text{CPI}_{\text{ID}}}\right) \] ### 具体数据 - **2010年**： - 名义汇率：IDR 15,000/USD - CPI（印尼）：100 - CPI（美国）：100 - **2019年**： - 名义汇率：IDR 14,000/USD - CPI（印尼）：105 - CPI（美国）：110 ### 计算步骤 1. **确定2019年的名义汇率**： \[ \text{名义汇率}_{2019} = \text{IDR 14,000/USD} \] 2. **计算CPI比例**： \[ \frac{\text{CPI}_{\text{US}, 2019}}{\text{CPI}_{\text{ID}, 2019}} = \frac{110}{105} \approx 1.0476 \] 3. **计算2019年的实际汇率**： \[ \text{实际汇率}_{2019} = \text{名义汇率}_{2019} \times \frac{\text{CPI}_{\text{US}, 2019}}{\text{CPI}_{\text{ID}, 2019}} \] \[ \text{实际汇率}_{2019} = 14,000 \times 1.0476 \approx 14,666.67 \] ### 结论 2019年的实际汇率约为 **IDR 14,666.67/USD**。这个实际汇率考虑了两国的通货膨胀率，反映了两国购买力的相对变化。 ### 解释 实际汇率是名义汇率调整通货膨胀后的结果。尽管名义汇率从2010年的15,000 IDR/USD下降到2019年的14,000 IDR/USD，但由于美国的通货膨胀率高于印尼，实际汇率调整后反映出印尼货币的相对贬值。 |
14666.67 |
| deepseekr1 | To determine the real exchange rate (RER) in 2019, we adjust the nominal exchange rate for inflation differentials between Indonesia and the United States. The formula for the real exchange rate is: \[ \text{RER} = \text{Nominal Exchange Rate} \times \frac{\text{Foreign CPI}}{\text{Domestic CPI}} \] **Given Data:** - **2010 Nominal Exchange Rate**: IDR 15,000/USD - **2019 Nominal Exchange Rate**: IDR 14,000/USD - **Indonesia’s CPI (2019)**: 105 (5% inflation from 2010) - **United States’ CPI (2019)**: 110 (10% inflation from 2010) **Calculation:** \[ \text{RER (2019)} = 14,000 \times \frac{110}{105} = 14,000 \times 1.0476 \approx \boxed{14,666.67 \, \text{IDR/USD}} \] **Interpretation:** The real exchange rate of approximately **14,666.67 IDR/USD** indicates that after accounting for inflation, the Indonesian Rupiah appreciated in real terms compared to the US Dollar. Despite a nominal appreciation (IDR strengthening from 15,000 to 14,000), higher US inflation (10%) reduced the USD’s purchasing power, leading to a smaller real appreciation of the IDR. |
14666.67 |
| gpto1 | To find the **real exchange rate** between the Indonesian rupiah (IDR) and the U.S. dollar (USD) for the year 2019, we'll use the following formula: \[ \text{Real Exchange Rate} = E \times \left( \dfrac{P^*}{P} \right) \] Where: - \( E \) = Nominal exchange rate (IDR per USD) - \( P^* \) = Foreign price level (U.S. CPI) - \( P \) = Domestic price level (Indonesian CPI) Let's step through the problem systematically. --- ### **Given Data:** **For 2010 (Base Year):** - **Nominal Exchange Rate (\( E_{2010} \))**: IDR 15,000/USD - **Indonesian CPI (\( P_{2010} \))**: 100 - **U.S. CPI (\( P^*_{2010} \))**: 100 **For 2019:** - **Nominal Exchange Rate (\( E_{2019} \))**: IDR 14,000/USD - **Indonesian CPI (\( P_{2019} \))**: 105 (a 5% increase from 100) - **U.S. CPI (\( P^*_{2019} \))**: 110 (a 10% increase from 100) --- ### **Step-by-Step Solution:** #### **1. Calculate the Price Indices Ratios:** We need to adjust the nominal exchange rate by the relative changes in price levels to find the real exchange rate. \[ \begin{align*} \dfrac{P^*_{2019}}{P_{2019}} &= \dfrac{110}{105} \\ &= 1.047619 \end{align*} \] #### **2. Calculate the Real Exchange Rate for 2019:** Apply the formula using the 2019 data. \[ \begin{align*} \text{Real Exchange Rate}_{2019} &= E_{2019} \times \left( \dfrac{P^*_{2019}}{P_{2019}} \right) \\ &= 14,000 \times 1.047619 \\ &= 14,666.6667 \text{ IDR per USD} \end{align*} \] #### **3. Interpret the Result:** - **Real Exchange Rate in 2010 (\( \text{RER}_{2010} \))**: Since both CPIs were 100 in 2010, the real exchange rate was equal to the nominal exchange rate. \[ \text{RER}_{2010} = E_{2010} \times \left( \dfrac{P^*_{2010}}{P_{2010}} \right) = 15,000 \times \left( \dfrac{100}{100} \right) = 15,000 \text{ IDR per USD} \] - **Change in Real Exchange Rate from 2010 to 2019:** \[ \text{Change} = \text{RER}_{2019} - \text{RER}_{2010} = 14,666.6667 - 15,000 = -333.3333 \text{ IDR per USD} \] - **Percentage Change:** \[ \text{Percentage Change} = \left( \dfrac{\text{Change}}{\text{RER}_{2010}} \right) \times 100\% = \left( \dfrac{-333.3333}{15,000} \right) \times 100\% = -2.2222\% \] --- ### **Conclusion:** The **real exchange rate** in 2019 is approximately **14,666.67 IDR per USD**. - This indicates that, after adjusting for inflation differences between Indonesia and the United States, the Indonesian rupiah **appreciated** by approximately **2.22%** in real terms against the U.S. dollar from 2010 to 2019. --- ### **Understanding the Real Exchange Rate:** - A lower real exchange rate compared to the base year means the domestic currency has **appreciated** in real terms. - This real appreciation suggests that Indonesian goods have become relatively more expensive compared to U.S. goods when considering price level changes due to inflation. - Conversely, it also means that the purchasing power of the Indonesian rupiah relative to the U.S. dollar has increased for the given period. --- ### **Key Takeaways:** - **Nominal Exchange Rate** adjustments alone don't account for changes in price levels (inflation or deflation). - The **Real Exchange Rate** provides a more accurate measure by factoring in relative changes in price levels between two countries. - **Inflation rates** impact the real exchange rate: higher domestic inflation relative to foreign inflation tends to depreciate the real exchange rate, all else equal. |
14666.67 |
| GPT-4o | To calculate the real exchange rate, we need to adjust the nominal exchange rate by the relative price levels (or consumer price indices) of the two countries. The formula for the real exchange rate (RER) is: \[ \text{RER} = \left( \frac{\text{Nominal Exchange Rate} \times \text{CPI}_{\text{US}}}{\text{CPI}_{\text{Indonesia}}} \right) \] Where: - The Nominal Exchange Rate is the exchange rate between the two currencies. - \(\text{CPI}_{\text{US}}\) is the Consumer Price Index of the United States. - \(\text{CPI}_{\text{Indonesia}}\) is the Consumer Price Index of Indonesia. Given data for 2019: - Nominal Exchange Rate in 2019: IDR14,000/USD - \(\text{CPI}_{\text{US}}\) in 2019: 110 - \(\text{CPI}_{\text{Indonesia}}\) in 2019: 105 Substituting the values into the formula, we get: \[ \text{RER} = \left( \frac{14,000 \times 110}{105} \right) \] Let's do the calculation step-by-step: 1. Multiply the nominal exchange rate by the CPI of the United States: \[ 14,000 \times 110 = 1,540,000 \] 2. Divide the result by the CPI of Indonesia: \[ \frac{1,540,000}{105} \approx 14,666.67 \] Therefore, the real exchange rate in 2019 is approximately IDR14,666.67/USD. |
14666.67 |
| llama3.1-70B-Instruct | To calculate the real exchange rate, we need to take into account the changes in the exchange rate and the inflation rates in both countries. First, let's calculate the nominal exchange rate in 2019: IDR14,000/USD (2019) / IDR15,000/USD (2010) = 0.9333 (depreciation of the rupiah) Next, we need to calculate the relative price level between the two countries. We can do this by dividing the consumer price index (CPI) of Indonesia by the CPI of the United States: CPI Indonesia (2019) / CPI US (2019) = 105 / 110 = 0.9545 Now, we can calculate the real exchange rate by multiplying the nominal exchange rate by the relative price level: Real exchange rate (2019) = Nominal exchange rate (2019) x Relative price level = 0.9333 x 0.9545 = 0.8905 So, the real exchange rate in 2019 is approximately 0.8905, which means that the rupiah has depreciated by about 11% in real terms compared to the US dollar. Note: The real exchange rate is a measure of the relative purchasing power of two currencies, taking into account the differences in inflation rates between the two countries. |
14666.67 |
| llama3.1-405B-Instruct | To calculate the real exchange rate, we need to adjust the nominal exchange rate for the differences in inflation rates between the two countries. First, let's calculate the change in the nominal exchange rate: 2010: IDR15,000/USD 2019: IDR14,000/USD The nominal exchange rate has appreciated by (15,000 - 14,000) / 15,000 = 6.67% (approximately) Next, we need to calculate the difference in inflation rates between Indonesia and the United States: Indonesia's inflation rate: 5% (105 - 100) / 100 United States' inflation rate: 10% (110 - 100) / 100 The difference in inflation rates is: 10% - 5% = 5% Now, we can calculate the real exchange rate: Real exchange rate = Nominal exchange rate x (1 + (Indonesia's inflation rate - United States' inflation rate)) Real exchange rate = IDR14,000/USD x (1 + (5% - 10%)) = IDR14,000/USD x (1 - 0.05) = IDR13,300/USD (approximately) So, the real exchange rate is approximately IDR13,300/USD. This means that, after adjusting for inflation, the Indonesian rupiah has actually depreciated against the US dollar by about 11.3% (13,300 - 15,000) / 15,000. |
14666.67 |
| DeepSeek-Coder-V2 | To find the real exchange rate, we need to adjust the nominal exchange rate for the differences in inflation rates between the two countries. The formula for the real exchange rate is: Real Exchange Rate = Nominal Exchange Rate * (CPI of Foreign Country / CPI of Home Country) Given data: - Nominal Exchange Rate in 2010: IDR15,000/USD - Nominal Exchange Rate in 2019: IDR14,000/USD - CPI Indonesia 2010: 100 - CPI Indonesia 2019: 105 - CPI United States 2010: 100 - CPI United States 2019: 110 First, let's calculate the real exchange rate for 2010: Real Exchange Rate 2010 = Nominal Exchange Rate 2010 * (CPI United States 2010 / CPI Indonesia 2010) Real Exchange Rate 2010 = IDR15,000/USD * (100 / 100) Real Exchange Rate 2010 = IDR15,000/USD Next, let's calculate the real exchange rate for 2019: Real Exchange Rate 2019 = Nominal Exchange Rate 2019 * (CPI United States 2019 / CPI Indonesia 2019) Real Exchange Rate 2019 = IDR14,000/USD * (110 / 105) Real Exchange Rate 2019 ≈ IDR14,571.43/USD So, the real exchange rate in 2019, adjusted for inflation, is approximately IDR14,571.43/USD. |
14666.67 |
| Qwen2-72B-Instruct | The real exchange rate is the nominal exchange rate adjusted for inflation in both countries. The formula for calculating the real exchange rate is: Real Exchange Rate = (Nominal Exchange Rate * Foreign Price Index) / Domestic Price Index In this case, we have two scenarios: one in 2010 and one in 2019. We'll calculate the real exchange rate for both scenarios and then compare them. Scenario 1: 2010 Nominal Exchange Rate: IDR 15,000/USD Indonesia (Domestic) Price Index: 100 United States (Foreign) Price Index: 100 Real Exchange Rate (2010) = (15,000 * 100) / 100 = 15,000 Scenario 2: 2019 Nominal Exchange Rate: IDR 14,000/USD Indonesia (Domestic) Price Index: 105 United States (Foreign) Price Index: 110 Real Exchange Rate (2019) = (14,000 * 110) / 105 = 14,761.90 The real exchange rate in 2010 was 15,000, and in 2019, it was approximately 14,761.90. This indicates that the real exchange rate has decreased, meaning that the Indonesian Rupiah has depreciated against the US Dollar when adjusted for inflation in both countries. |
14666.67 |
| baichuan4 | To calculate the real exchange rate, we need to take into account both the nominal exchange rate changes and the inflation rates in both countries. The real exchange rate (RER) can be calculated using the following formula: \[ RER_{2019} = \frac{(Nominal Exchange Rate_{2019} \times CPI_{US, 2010})}{(CPI_{ID, 2019} \times Nominal Exchange Rate_{2010})} \] Given: - \(Nominal Exchange Rate_{2010}\) = IDR15,000/USD - \(CPI_{US, 2010}\) = 100 - \(CPI_{ID, 2019}\) = 105 (since the base in 2010 was 100 and it rose by 5%) - \(Nominal Exchange Rate_{2019}\) = IDR14,000/USD Let's plug in the numbers: \[ RER_{2019} = \frac{(14,000 \times 100)}{(105 \times 15,000)} \] \[ RER_{2019} = \frac{1,400,000}{1,575,000} \] \[ RER_{2019} = 0.889 \] The real exchange rate in 2019, relative to 2010, is 0.889. This means that the purchasing power of the Indonesian rupiah has slightly increased relative to the US dollar from 2010 to 2019, taking into consideration both the exchange rate changes and inflation rates in both countries. |
14666.67 |
| doubao | In 2010, the real exchange rate = nominal exchange rate × (US CPI / Indonesian CPI) = 15000 × (100 / 100) = 15000. In 2019, the new nominal exchange rate is 14000. The new Indonesian CPI is 105 and the US CPI is 110. So the real exchange rate in 2019 = 14000 × (110 / 105) ≈ 14666.67. |
14666.67 |
| minimax | To calculate the real exchange rate, we need to adjust the nominal exchange rate by the relative price levels of the two countries. The formula for the real exchange rate (RER) is: RER = (Nominal Exchange Rate * Price Level in Domestic Country) / Price Level in Foreign Country Where: - Nominal Exchange Rate is the rate at which one currency can be exchanged for another, which in this case is the exchange rate between the Indonesian rupiah (IDR) and the US dollar (USD). - Price Level in Domestic Country is typically represented by the consumer price index (CPI) of the domestic country. - Price Level in Foreign Country is represented by the CPI of the foreign country. Let's calculate the real exchange rate for 2019 using the given data: Nominal Exchange Rate in 2019: 14,000 IDR/USD Indonesia's CPI in 2019: 105 US's CPI in 2019: 110 RER = (14,000 * 105) / 110 Now, we calculate the numerator and then divide by the US CPI: RER = 1,470,000 / 110 RER ≈ 13,363.64 IDR/USD So, the real exchange rate in 2019, adjusted for the relative price levels of Indonesia and the United States, is approximately 13,363.64 Indonesian rupiah per US dollar. |
14666.67 |
| kimi | To calculate the real exchange rate, we need to consider both the nominal exchange rate and the inflation rates in both countries. The real exchange rate adjusts for the differences in price levels between countries, which is affected by inflation. Here's how to calculate it: 1. **Nominal Exchange Rate**: This is the actual exchange rate given in the problem. - 2010: IDR 15,000/USD - 2019: IDR 14,000/USD 2. **Consumer Price Index (CPI)**: This measures the price level of a basket of goods and services. - Indonesia in 2010: 100 - Indonesia in 2019: 105 - United States in 2010: 100 - United States in 2019: 110 3. **Inflation Rate**: This is the percentage change in the CPI. - Indonesia: 5% (from 100 to 105) - United States: 10% (from 100 to 110) 4. **Real Exchange Rate Calculation**: - First, we calculate the purchasing power of the Indonesian Rupiah in 2010 and 2019. - Then, we calculate the purchasing power of the US Dollar in 2010 and 2019. - Finally, we compare the purchasing power of the Rupiah and the Dollar in 2019. **Step 1: Calculate the purchasing power of the Indonesian Rupiah in 2010 and 2019.** - In 2010, 1 USD could buy the equivalent of 15,000 IDR / 100 = 150 units of Indonesian goods. - In 2019, 1 USD could buy the equivalent of 14,000 IDR / 105 ≈ 133.33 units of Indonesian goods. **Step 2: Calculate the purchasing power of the US Dollar in 2010 and 2019.** - In 2010, 1 USD could buy 1 unit of US goods. - In 2019, 1 USD could buy 1 / 110 * 100 ≈ 0.909 units of US goods. **Step 3: Calculate the real exchange rate in 2019.** - The real exchange rate is the ratio of the purchasing power of the Rupiah to the purchasing power of the Dollar in 2019. - Real Exchange Rate = (Purchasing Power of Rupiah in 2019) / (Purchasing Power of Dollar in 2019) - Real Exchange Rate ≈ 133.33 / 0.909 ≈ 146.52 So, the real exchange rate in 2019 is approximately IDR 14,600/USD (rounded to the nearest whole number). This means that in real terms, the value of the Indonesian Rupiah against the US Dollar has depreciated from 2010 to 2019 when adjusted for inflation. |
14666.67 |
| wenxinyiyan | To calculate the real exchange rate, we need to adjust the nominal exchange rate for the changes in the consumer price index (CPI) in both countries. The real exchange rate reflects the purchasing power of one currency relative to another, taking into account the inflation rates in each country. Given Data: * In 2010: + Exchange Rate: IDR 15,000/USD + Indonesian CPI: 100 + US CPI: 100 * In 2019: + Exchange Rate: IDR 14,000/USD + Indonesian CPI: 105 (5% increase from 2010) + US CPI: 110 (10% increase from 2010) To calculate the real exchange rate in 2019 relative to 2010, we use the following formula: Real Exchange Rate in 2019 = (Nominal Exchange Rate in 2019 / Nominal Exchange Rate in 2010) * (US CPI in 2010 / US CPI in 2019) * (Indonesian CPI in 2019 / Indonesian CPI in 2010) = (14,000 / 15,000) * (100 / 110) * (105 / 100) = 0.9333 * 0.9091 * 1.05 = 0.9899 (approx.) This means that the real exchange rate adjusted for inflation has slightly appreciated from 2010 to 2019. However, since the result is close to 1, it indicates that the purchasing power of the Indonesian rupiah relative to the US dollar has remained almost the same over this period, considering the inflation rates in both countries. Therefore, the real exchange rate is approximately IDR 14,000/USD in 2019, adjusted for inflation. |
14666.67 |
| zhipu | To calculate the real exchange rate, we need to adjust the nominal exchange rate for the changes in price levels between the two countries. The real exchange rate can be calculated using the following formula: \[ \text{Real Exchange Rate} = \left( \frac{\text{Nominal Exchange Rate}_{\text{t}}}{\text{Nominal Exchange Rate}_{\text{base}}} \right) \times \left( \frac{\text{CPI}_{\text{foreign}}}{\text{CPI}_{\text{domestic}}} \right) \] Where: - \(\text{Nominal Exchange Rate}_{\text{t}}\) is the current nominal exchange rate. - \(\text{Nominal Exchange Rate}_{\text{base}}\) is the base year nominal exchange rate. - \(\text{CPI}_{\text{foreign}}\) is the current Consumer Price Index of the foreign country (USA in this case). - \(\text{CPI}_{\text{domestic}}\) is the current Consumer Price Index of the domestic country (Indonesia in this case). Given data: - \(\text{Nominal Exchange Rate}_{\text{base}}\) in 2010 = IDR 15,000/USD - \(\text{Nominal Exchange Rate}_{\text{t}}\) in 2019 = IDR 14,000/USD - \(\text{CPI}_{\text{domestic}}\) in 2019 = 105 (Indonesia) - \(\text{CPI}_{\text{foreign}}\) in 2019 = 110 (USA) Now, plug these values into the formula: \[ \text{Real Exchange Rate} = \left( \frac{14,000}{15,000} \right) \times \left( \frac{110}{105} \right) \] First, calculate the ratio of the nominal exchange rates: \[ \frac{14,000}{15,000} = 0.9333 \] Next, calculate the ratio of the CPIs: \[ \frac{110}{105} = 1.0476 \] Now, multiply these two ratios: \[ \text{Real Exchange Rate} = 0.9333 \times 1.0476 \approx 0.9772 \] To express the real exchange rate in terms of IDR per USD, we can multiply this factor by the base year nominal exchange rate: \[ \text{Real Exchange Rate} \approx 0.9772 \times 15,000 \approx IDR 14,658/USD \] So, the real exchange rate in 2019, adjusted for inflation, is approximately IDR 14,658 per USD. |
14666.67 |
| gpto1 | To find the **real exchange rate** between the Indonesian rupiah (IDR) and the U.S. dollar (USD) for the year 2019, we'll use the following formula: \[ \text{Real Exchange Rate} = E \times \left( \dfrac{P^*}{P} \right) \] Where: - \( E \) = Nominal exchange rate (IDR per USD) - \( P^* \) = Foreign price level (U.S. CPI) - \( P \) = Domestic price level (Indonesian CPI) Let's step through the problem systematically. --- ### **Given Data:** **For 2010 (Base Year):** - **Nominal Exchange Rate (\( E_{2010} \))**: IDR 15,000/USD - **Indonesian CPI (\( P_{2010} \))**: 100 - **U.S. CPI (\( P^*_{2010} \))**: 100 **For 2019:** - **Nominal Exchange Rate (\( E_{2019} \))**: IDR 14,000/USD - **Indonesian CPI (\( P_{2019} \))**: 105 (a 5% increase from 100) - **U.S. CPI (\( P^*_{2019} \))**: 110 (a 10% increase from 100) --- ### **Step-by-Step Solution:** #### **1. Calculate the Price Indices Ratios:** We need to adjust the nominal exchange rate by the relative changes in price levels to find the real exchange rate. \[ \begin{align*} \dfrac{P^*_{2019}}{P_{2019}} &= \dfrac{110}{105} \\ &= 1.047619 \end{align*} \] #### **2. Calculate the Real Exchange Rate for 2019:** Apply the formula using the 2019 data. \[ \begin{align*} \text{Real Exchange Rate}_{2019} &= E_{2019} \times \left( \dfrac{P^*_{2019}}{P_{2019}} \right) \\ &= 14,000 \times 1.047619 \\ &= 14,666.6667 \text{ IDR per USD} \end{align*} \] #### **3. Interpret the Result:** - **Real Exchange Rate in 2010 (\( \text{RER}_{2010} \))**: Since both CPIs were 100 in 2010, the real exchange rate was equal to the nominal exchange rate. \[ \text{RER}_{2010} = E_{2010} \times \left( \dfrac{P^*_{2010}}{P_{2010}} \right) = 15,000 \times \left( \dfrac{100}{100} \right) = 15,000 \text{ IDR per USD} \] - **Change in Real Exchange Rate from 2010 to 2019:** \[ \text{Change} = \text{RER}_{2019} - \text{RER}_{2010} = 14,666.6667 - 15,000 = -333.3333 \text{ IDR per USD} \] - **Percentage Change:** \[ \text{Percentage Change} = \left( \dfrac{\text{Change}}{\text{RER}_{2010}} \right) \times 100\% = \left( \dfrac{-333.3333}{15,000} \right) \times 100\% = -2.2222\% \] --- ### **Conclusion:** The **real exchange rate** in 2019 is approximately **14,666.67 IDR per USD**. - This indicates that, after adjusting for inflation differences between Indonesia and the United States, the Indonesian rupiah **appreciated** by approximately **2.22%** in real terms against the U.S. dollar from 2010 to 2019. --- ### **Understanding the Real Exchange Rate:** - A lower real exchange rate compared to the base year means the domestic currency has **appreciated** in real terms. - This real appreciation suggests that Indonesian goods have become relatively more expensive compared to U.S. goods when considering price level changes due to inflation. - Conversely, it also means that the purchasing power of the Indonesian rupiah relative to the U.S. dollar has increased for the given period. --- ### **Key Takeaways:** - **Nominal Exchange Rate** adjustments alone don't account for changes in price levels (inflation or deflation). - The **Real Exchange Rate** provides a more accurate measure by factoring in relative changes in price levels between two countries. - **Inflation rates** impact the real exchange rate: higher domestic inflation relative to foreign inflation tends to depreciate the real exchange rate, all else equal. |
14666.67 |
| deepseekv3 | To calculate the **real exchange rate**, we need to adjust the nominal exchange rate for the inflation rates in both countries. The formula for the real exchange rate (RER) is: \[ \text{RER} = \text{Nominal Exchange Rate} \times \frac{\text{Foreign Price Level}}{\text{Domestic Price Level}} \] ### Step 1: Gather the data - **Nominal Exchange Rate in 2019**: IDR 14,000/USD - **Indonesia’s Consumer Price Index (CPI) in 2019**: 105 (base year 2010 = 100) - **United States’ CPI in 2019**: 110 (base year 2010 = 100) ### Step 2: Plug the values into the formula \[ \text{RER} = 14,000 \times \frac{110}{105} \] ### Step 3: Calculate the real exchange rate \[ \text{RER} = 14,000 \times 1.0476 = 14,666.67 \] ### Final Answer: The **real exchange rate** in 2019 is approximately **IDR 14,666.67/USD**. |
14666.67 |