Assume That $1 Can Buy You Either ¥107 or £

question 23

Multiple Choice

Assume that $1 can buy you either ¥107 or £.55. If a TV in London costs £500,what will that identical TV cost in Tokyo if absolute purchasing power parity exists?

• A) ¥95,255
• B) ¥96,667
• C) ¥97,273
• D) ¥98,008
• E) ¥118,889

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Definitions:

Ethical Responsibility

The duty to act in a morally sound way, considering the consequences of one's actions on others.