You need $500 to rent an efficiency apartment in the United States and 425 euros to rent a comparable apartment in France. Suppose 1 euro buys $1.36 in US dollars (thats the exchange rate).

How many dollars would you need to rent the apartment? $

What is one euro worth in PPP dollars (using the cost of a comparable apartment)? {Hint: what is the ratio of dollars to Euros you need for a comparable efficiency apartment?} $ (round to the nearest cent)

Does the exchange rate give an accurate picture of the purchasing power of the Euro in France? Yes or No