Multiple Choice
According to purchasing-power parity,if the same basket of goods costs $100 in the U.S.and 50 pounds in Britain,then what is the nominal exchange rate?
A) 2 pounds per dollar
B) 1 pound per dollar
C) 1/2 pound per dollar
D) None of the above is correct
Correct Answer:
Verified
Correct Answer:
Verified
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