If a Dollar Bought 1,000 Chilean Pesos Ten Years Ago

question 80

Multiple Choice

If a dollar bought 1,000 Chilean pesos ten years ago and 1,500 pesos now, and inflation for that period was 25 percent in the United States and 100 percent in Chile, then:

• A)the purchasing-power parity theory is correct.
• B)traveling in Chile today costs about the same as it did ten years ago.
• C)traveling in Chile is cheaper now than it was ten years ago.
• D)traveling in Chile is more expensive now than it was ten years ago.

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