Suppose the same basket of goods costs $100 in the U.S.and 50 pounds in Britain.According to purchasing power parity,what is the nominal exchange rate?
A)2 pounds per dollar
B)1 pound per dollar
C)1/2 pound per dollar
D)None of the above is correct

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The Answer of Suppose the same basket of goods costs $100 in the U.S.and 50 pounds in Britain.According to purchasing power parity,what is the nominal exchange rate?
A)2 pounds per dollar
B)1 pound per dollar
C)1/2 pound per dollar
D)None of the above is correct

Suppose the Same Basket of Goods Costs $100 in the U.S.and