The spot foreign exchange rates (direct quotation) of the Goodland economy's currency, with the currencies of her three major trade partners in two periods, are as follows:
$$
\begin{array}{ccc}
\hline \text { Country } & \text { Period 1 } & \text { Period 2 } \\
\hline 1 & 10 & 12 \\
2 & 20 & 18 \\
3 & 0.10 & 0.15 \\
\hline
\end{array}
$$
The trade shares of the three countries in Goodland's total trade remain the same in the two periods at 35 per cent, 20 per cent and 25 per cent for countries 1,2 and 3 , respectively and the inflation rate between the two periods in Goodland and countries 1,2 and 3 happened to be 6 per cent, 10 per cent, 5 per cent and 2 per cent, respectively.
Compute the values of the trade weighted nominal effective exchange rate for each of the two periods and of the trade weighted real effective exchange rate for period 2 for the Goodland's currency. Has the Goodland's currency devalued? Use the geometric averaging system as well as the arithmetic averaging system and see if the two methods yield significantly different results.