Until then, districts across America had very different populations butequal representation, so that some (mostly rural) communities were over-represented in legislatures and Congress, while others were under-represented.
By contrast, re-mortgaging a home simply means to take out a new loan equal to what is currently owed, but usually at a different interest rate and a different period of repayment.
Not only must investors regard assets in different countries as perfect substitutes, but expected changes in exchange rates must also equal the expected inflation differential between two countries.