If wheat costs $4 per bushel in the United States and 2 pounds per bushel in Great Britain, then in the presence of purchasing-power parity the exchange rate should be:

a)            $.50 per pound

b)            $1.00 per pound

c)            $2.00 per pound

d)            $8.00 per pound

Answer rating: 100% (QA)

Cost of wheat 4 in unit st... View the full answer