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What is PPP, Purchasing Power Parity? Group of answer choices It is the application of the law of one price to entire economies. It predicts

What is PPP, Purchasing Power Parity? Group of answer choices

It is the application of the law of one price to entire economies.

It predicts that exchange rates will eventually adjust to relative price level changes between two countries.

It explains that in the long run, exchange rates are more determined by relative difference in productivity and trade bariiers.

All of the above are true regarding PPP.

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