Which of the following is correct? Suppose the expected inflation in the U.S. on was projected at 5% annually for the next 5 years and at 12% annually in Turkey for the same time period, and the Turkish lira/$ spot rate that day was currently at L2400 = $1, then the PPP estimate of the spot rate five years from now would be
A) 1738
B) 3314
C) 2560
D) 2250
Correct Answer:
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