According to the theory and empirical evidence of purchasing power parity, which of the following would not be true if PPP holds in the long run?

		An exchange rates equilibrium path should be determined by the long-term trend in domestic price levels relative to foreign price levels.
		Deviations from PPP might occur over short- and medium-term periods, but fundamental forces should eventually work to push exchange rates toward their long-term PPP path.
		High-inflation countries should tend to see their currencies appreciate over time.
		None of the answers are correct