From 1970 until the late 1990s, the general price level in Spain consistently rose at a much faster rate than in West Germany. Given this sustained difference in inflation, what was the most probable long-term trend for the value of the Spanish peseta relative to the West German Deutsche Mark during this period?
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From 1970 until the late 1990s, the general price level in Spain consistently rose at a much faster rate than in West Germany. Given this sustained difference in inflation, what was the most probable long-term trend for the value of the Spanish peseta relative to the West German Deutsche Mark during this period?
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