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 different everywhere in the world.
D) the exchange rate should be the same between all the countries.
E) prices should tend toward equality with exchange rates.