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Determine the the exchange rate

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Reference no: EM133049100

Question - If wheat costs $12 per bushel in the United States and 8 pounds per bushel in Great Britain, then in the presence of purchasing-power parity the exchange rate should be

a. $.67 per pound

b. $1.50 per pound

c. $96.00 per pound

d. $2.00 per pound

Reference no: EM133049100

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