Which of the following statement(s) is/are false? I. Relative to the Purchasing Power Parity (PPP), the Interest Rate Parity (IRP) are violated (evidence against it) more often. II. As the purchasing power of a currency sharply declines (due to hyperinflation) that currency will appreciate against stable currencies. III. According to the Purchasing Power Parity (PPP), the prices of standard commodity baskets in two countries are related. d) I and II only a) I only e) None of the above answers b) II only c) III only