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Alpha and Beta are two countries. Alpha uses dollars ($) and Beta uses pounds (E). Treat Alpha as the home country and define the bilateral exchange rate as the number of pounds that exchange for one dollar: e= we Ith The following table provides some annual exchange rate data. e 2016 0.6 2017 0.56 2018 0.50 2019 0.45 (i) Discuss how the theory of Purchasing Power Parity would explain the behaviour of the exchange rate over the period 2016 to 2019? (2 marks)