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Zergnet Zergnet
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A year ago
Scenario: The price of an iPhone 5s in the United States is $399. The table below lists the income per capita and the price of the same iPhone in the domestic currencies of four different countries in 2014.

CountryIncome per CapitaiPhone Price
Country 115,600 units999 units
Country 234,500 units2,300 units
Country 222,670 units10,500 units
Country 220,000 units1,900 units

Refer to the scenario above. What is the PPP-based exchange rate between the currency of Country 1 and the U.S. dollar?

▸ 1.2 units of Country 1's currency for $1

▸ 0.4 units of Country 1's currency for $1

▸ 2.5 units of Country 1's currency for $1

▸ 1 unit of Country 1's currency for $2.50
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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illusionldillusionld
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A year ago
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Zergnet Author
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A year ago
Brilliant ツ
gefa
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This helped my grade so much Perfect
husne
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You make an excellent tutor!
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