Multiple Choice
According to purchasing-power parity, if the dollar price of oil is higher in New York than in London, arbitrageurs will ___ oil in New York and _____ oil in London to drive _____ the price of oil in New York.
A) buy; sell; up
B) buy; sell; down
C) sell; buy; up
D) sell; buy; down
Correct Answer:
Verified
Correct Answer:
Verified
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