8- Which of the following conditions must be met for absolute purchasing power parity to exist?

I. No trade barriers can exist.

II. Transaction costs must be zero.

III. Forward exchange rates must be less than the spot rates.

IV. The products must be identical.

A) I and II only

B) I and III only

C) I, II and IV only

D) I, III, and IV only

E) I, II, III and IV