Multiple Choice
If purchasing power parity holds and a basket of goods costs $300 in the U.S. and the same basket costs 450 manats in Azerbiajan, then what is the nominal exchange rate?
A) about .67 manats per dollar
B) 1 manat per dollar
C) 1.5 manats per dollar
D) about 1.67 manats per dollar
Correct Answer:
Verified
Correct Answer:
Verified
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