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The inflation rate in the U.K. is 3%, while the inflation rate in the U.S. is 8%. The spot rate for the British pound is

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The inflation rate in the U.K. is 3%, while the inflation rate in the U.S. is 8%. The spot rate for the British pound is $1.50. According to the Purchasing Power Parity (PPP), what level will the British Pound will be adjusted to

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