If the Purchasing Power Parity Theory Were Literally True

If the purchasing power parity theory were literally true

A) we should see some nations devaluing their currencies relative to the U.S.dollar while other nations revalue their currencies
B) the price of a traded good should be the same everywhere in the world
C) the price of a Big Mac should be the same everywhere in the world
D) the exchange rate should be the same everywhere in the world
E) prices should tend toward equality with exchange rates