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Solve the equation by using substitution.
Purchasing Power Parity
A theory in economics that suggests that in the absence of transaction costs and other barriers, identical goods should have the same price in different countries when prices are expressed in a common currency.
Prices
Monetary values assigned to products and services which are determined by the interaction of supply and demand in the market.
Exchange Rates
The value of one currency for the purpose of conversion to another.
Price Level
The cumulative average pricing for goods and services across various industries within the economy.
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