During the past year, the consumer price indexes (CPI) of the United States and the Eurozone rose by 3 percent and 4 percent, respectively.

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3. During the past year, the consumer price indexes (CPI) of the United States and the Eurozonerose by 3 percent and 4 percent, respectively. If PPP holds, what is the percentage change in thevalue of the EUR over the same time period?

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