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3. Computing real exchange rates 
Consider a bundle of consumer goods that costs $90 in the United States. The same bundle of goods costs CNY 105 in China. 
Holding constant the cost of the bundle in each country, compute the real exchange rates that would result from the two nominal exchange rates in the following table. 
Cost of Bundle in U.S. Cost of Bundle in China (Dollars) (Yuan) 90 105 90 105 
Nominal Exchange Rate Real Exchange Rate (Yuan per dollar) (Bundles of Chinese goods per bundle of U.S goods) 
7.00 
10.50