(Table: Exchange Rates and Prices) Suppose a computer costs $500 in the United States. If PPP were to hold at the given nominal exchange rate, then the price of a computer in South Africa would be _____ rands. 
Definitions:
Real Characteristics
Essential and tangible attributes or features of goods, services, or economic conditions that can be measured and evaluated.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, representing the profit beyond the normal return on investment.
Profit-Maximizing
The strategy businesses use to generate the highest possible profit, typically by adjusting price, output, or other operational variables.
Demand Schedule
A table showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a specified period.
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