Question: In generality for economics. What is the difference between nominal and real exchange rates? I understand nominal is dollar amounts and real is represented in

In generality for economics. What is the difference between nominal and real exchange rates? I understand nominal is dollar amounts and real is represented in goods and services. I am also asking what are the difference of impacts if the real exchange rate increases (with the nominal exchange rate being constant) and the impacts of an increase in nominal exchange rates (real exchange rates being negative). The impacts would be on the foreign and domestic economies. Additionally, what are nominal versus real exchange rates?

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