Assume that $1 can buy you either ¥118 or £.5087. If a TV in London costs £1,375, what will that identical TV cost in Tokyo if absolute purchasing power parity exists?
A) ¥82,537
B) ¥94,508
C) ¥159,911
D) ¥298,607
E) ¥318,950
Correct Answer:
Verified
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