The Price of an item should be the same in real terms, regardless of the currency used to purchase it. Answer questions A & B below. A) What are the 3 Requirements for absolute PPP to hold (label answers clearly with 1, 2, 3 respectively? B) What is the implied Forward rate (provide answer as a direct rate), given the following: The direct exchange rate is 0.78 US dollars per Canadian dollar. US Inflation is expected to be 9% per year, Canadian Inflation is expected to be 5%