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Relative purchasing power parity occurs when (a).purchasing power parity holds between two countries. (b).purchasing power parity only holds in recessions. (c).the nominal exchange rate is

Relative purchasing power parity occurs when

(a).purchasing power parity holds between two countries.

(b).purchasing power parity only holds in recessions.

(c).the nominal exchange rate is constant.

(d).the real exchange rate is constant.

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