Assume That $1 Can Buy You Either ¥117

question 182

Multiple Choice

Assume that $1 can buy you either ¥117.341 or £.5725. If a sofa in London costs £650, what will that identical sofa cost in Tokyo if absolute purchasing power parity exists?

• A) ¥43,666
• B) ¥48,503
• C) ¥97,341
• D) ¥118,111
• E) ¥133,226

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Definitions:

Symbols

Objects, signs, or representations that stand for or suggest something else by association, resemblance, or convention.

Decoders

Individuals or devices that interpret and convert communications or data into a comprehensible form.

Channels

Mediums or pathways through which communication or information is transmitted.

Communication Skills

The abilities used to convey information, thoughts, and feelings effectively through verbal and non-verbal means.