Japan's gdp in 2012 was 468 trillion yen. in the same year us gdp was 16.2 trillion dollar. the exchange rate was 79.8 yen per dollar. in addition the price level in japan divided by the price level in the us was 1.307, that is, prices were 30.7% higher in japan than in the us. what is japan's gdp in usd at local prices i. e. if we do not take into account the differences in relative prices and simply use the exchange rate to make the conversion? "
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