Assume that $1 can buy you either ¥98.48 or £0.6211. If a TV in London costs £990, what will that identical TV cost in Tokyo if absolute purchasing power parity exists?
A) ¥58,797
B) ¥60,554
C) ¥156,972
D) ¥161,855
E) ¥163,542
Correct Answer:
Verified
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