Multiple Choice
Assume the exchange rate is 1 U.S.dollar equals 1.10 Canadian dollars.If purchasing power parity is correct, a DVD that has a price of $10 in Rochester, New York, in Canada has a price of ________ Canadian dollars.
A) 11.00
B) 9.09
C) 10.00
D) 11.11
E) 10.10
Correct Answer:
Verified
Correct Answer:
Verified
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