The following is a graphical representation of the purchasing power parity (PPP) line:

The dashed line is the PPP line. Which of the following is not true (assume that there are no market imperfections)?

a. Any point lying to the right of the PPP line represent cheaper foreign goods than home country goods from a foreign consumer's perspective.

b. Any point lying on the PPP line represent purchasing power parity.

c. Any point lying to the left of the PPP line represent higher home consumers' purchasing power with respect to foreign goods than home goods.

d. Any point lying to the left of the PPP line represent covered interest arbitrage opportunities for home country investors.