Solved

If the Theory of Purchasing Power Parity Holds,then How Much

Question 94

Multiple Choice

If the theory of purchasing power parity holds,then how much does an oil change for a Toyota Prius cost in Japan if the same oil change for the same Toyota Prius costs $29.95 in the United States and the exchange rate is $0.011 per Japanese yen?


A) It cannot be determined with the given information because oil changes are not tradable.
B) 2,723 yen
C) 0.33 yen
D) 272 yen
E) 3.29 yen

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents