In 1960 a U.S. dollar sold for 620 Italian lire. If PPP held in 1960, what would
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In 1960 a U.S. dollar sold for 620 Italian lire. If PPP held in 1960, what would the PPP value of the exchange rate have been in 1987 if Italian prices rose 12 times and U.S. prices rose 4 times between 1960 and 1987?
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To calculate the PPP Purchasing Power Parity value of the exchange rate in 1987 we need to compare t...View the full answer
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