Multiple Choice
If wheat costs $4 per bushel in the United States and 2 pounds per bushel in Great Britain,then in the presence of purchasing-power parity the exchange rate should be:
A) $.50 per pound
B) $1.00 per pound
C) $2.00 per pound
D) $8.00 per pound
Correct Answer:
Verified
Correct Answer:
Verified
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