Use the following to answer questions:
A car costs $30 000 in Canada and the exchange rate is $1 = £0.50.The same car costs £12 000 in Britain.
-(Scenario: Purchasing Power Parity) Refer To Scenario: Purchasing Power Parity.What is the purchasing power parity of the pound?
A) $5
B) $2.50
C) $1.25
D) $0.80
Correct Answer:
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