6. Assume that the United Arab Emirates has the following import/export volumes and prices. It undertakes a major "devaluation" of the UAE Dirham (AED) by 6% on average against all major trading partner currencies. What is the pre-devaluation and post-devaluation trade balance? Assumptions Initial cross exchange rate, AED/€ Price of exports, (AED). Price of imports, (€) Quantity of exports, units Quantity of imports, units Percentage devaluation of the AED 4.20 100.0000 112.0000 300 200 Values 6.00%

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