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According to the Law of One Price,if the Exchange Rate ≤\le

Question 31

Multiple Choice

According to the law of one price,if the exchange rate between the British pound and the dollar is ≤\le 1 = $1.50,a jacket that retails for $75 in New York should sell for _____ in London.


A) ≤\le 40
B) ≤\le 50
C) ≤\le 60
D) ≤\le 75

Correct Answer:

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