Question: Assume the current spot rate between the U.S. and the U.K. is $1.00 = 0.62. If absolute purchasing power parity holds, what is the price

  1. Assume the current spot rate between the U.S. and the U.K. is $1.00 = 0.62. If absolute purchasing power parity holds, what is the price per bushel of potatoes in the U.S. given that the same bushel costs 3.30 in the U.K.?

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