Multiple Choice
Suppose the exchange rate for 1 euro is $1.40. Purchasing power parity exists if a fast-food meal in the United States costs $5, and in Paris, that same fast-food meal costs
A) 7 euros.
B) 3.57 euros.
C) 2.59 euros.
D) 3.43 euros.
Correct Answer:
Verified
Correct Answer:
Verified
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