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Your favorite running shoes cost $91 in the U.S. while the identical shoes cost Can$114.50 in Canada. According to absolute purchasing power parity, what is the Can$/$ exchange rate
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Your favorite running shoes cost $91 in the U.S. while the identical shoes cost Can$114.50 in Canada. According to absolute purchasing power parity, what is the Can$/$ exchange rate

User Amik
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1 Answer

0 votes

Answer:

Can $1.2582 / US $1

Step-by-step explanation:

US $91 = Can $114.50

$1 = Can $114.50 / $91

$1 = Can $1.2582

Therefore, the Can$/$ exchange rate is Can $1.2582 / US $1

User Robertwbradford
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4.8k points
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