Question: Explain why a geometric average is more appropriate than an arithmetic average for calculating effective exchange rates? Miles-Scott-Breedon. Original materials fromMacroeconomics: understanding the global economy

Explain why a geometric average is more appropriate than an arithmetic average for calculating effective exchange rates?

Miles-Scott-Breedon. Original materials fromMacroeconomics: understanding the global economy copyright 2012 Wiley. All rights reserved.

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