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6. Problem 6 The nominal exchange rate is the price of one currency in terms of another currency. A nominal exchange rate specifies hon.I many units of one country's currency are needed to buy one unit of another country's currency. Suppose the following table presents nominal exchange rate data for February 28, 2019, in terms of U.S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow. Cost of One Unit of Foreign Currency Foreign Currency (Dollars) Brazilian real {BRLJ 0.4067Ir Canadian dollar (CAD) 0.?950 Euro {EUR} 1.2035 Japanese yen {JPYJ 0.009126 Mexican peso {WHEN} 0.0920 United Kingdom pound {GBP} 1.8011 Suppose that on February 28, 2019, a mahogany longcase clock handmade in Japan is priced at JP'r' 329,060. The approximate U.S. dollar price of the clock would be $3,003 V . If the nominal exchange rate for the U.S. dollarBrazilian real falls from $0.406? to $0.264355 per Brazilian real, the Brazilian real decreases V in Save & COI'Itl I'IIIE Continue without saying value, or depreciates V , relative to the U.S. dollar