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What is the law of one price? How does the Big Mac index explain the law of one price? Discuss the significance of Purchasing Power

What is the law of one price? How does the Big Mac index explain the law of one price? Discuss the significance of Purchasing Power Parity (PPP) theory in the forecasting forex rates.

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The detailed answer for the above question is provided below Law of One Price The Law of One Price is an economic principle that suggests that identical goods or assets should sell for the same price ... blur-text-image

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