Assuming the Theory of Purchasing Power Parity Holds,if the Exchange

question 56

Multiple Choice

Assuming the theory of purchasing power parity holds,if the exchange rate between the United States and Europe is $1.33 per euro,then how much does a €35 bottle of French champagne cost in U.S.dollars?

• A) $26.60
• B) $46.55
• C) $35.00
• D) $3.80
• E) $38.99

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