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  • Seinfeld: 50,000 Yen in Manhattan

    Kramer ends up hosting a group of Japanese tourists, saying, "Manhattan can be quite pricey, even with 50,000 yen." To which Elaine says, "50,000 yen—isn't that only a few hundred dollars?" "Evidently," Kramer replies. This illustrates the nominal exchange rate (50,000 yen for a few hundred dollars) and points to the idea of the real exchange rate (in terms of purchasing power, 50,000 yen doesn't purchase many visiting days in Manhattan).