Multiple Choice
box of candy costs 28.80 Swiss francs in Switzerland and $20 in the United States.Assuming that purchasing power parity (PPP) holds, what is the current exchange rate?
A) 1 U.S.dollar equals 0.69 Swiss francs
B) 1 U.S.dollar equals 0.85 Swiss francs
C) 1 U.S.dollar equals 1.21 Swiss francs
D) 1 U.S.dollar equals 1.29 Swiss francs
E) 1 U.S.dollar equals 1.44 Swiss francs
Correct Answer:
Verified
Correct Answer:
Verified
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