If Purchasing Power Parity Holds,a Bushel of Rice Costs $10

question 21

Multiple Choice

If purchasing power parity holds,a bushel of rice costs $10 in the U.S. ,and the nominal exchange rate is 2 Thai bhat per dollar,what is the price of rice in Thailand?

• A) 20 bhat
• B) 10 bhat
• C) 5 bhat
• D) 2 bhat

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