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Assume that the price of a bushel of corn is EUR 3.50 in the Euro Zone and USD 4.00 in the U.S. market. Currently the

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Assume that the price of a bushel of corn is EUR 3.50 in the Euro Zone and USD 4.00 in the U.S. market. Currently the USD/EUR spot exchange rate is: XoUSD/EUR = 1.20. Using the corn prices as a price benchmark, according to ILOP... O There is not enough information provided to answer this question The USD is correctly priced according to the ILOP condition The USD is overvalued against the Euro O The USD is undervalued against the Euro

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