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Suppose the price of a standard pair of shoes is 60 Euros in Spain and 85 Canadian Dollars in Canada, and the nominal exchange rate

Suppose the price of a standard pair of shoes is 60 Euros in Spain and 85 Canadian Dollars in Canada, and the nominal exchange rate is 0.75 euro per one dollar. What is the purchasing-power parity exchange rate of the dollar? Are shoes cheaper in Spain or Canada? Explain

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