A basket of goods costs $800 in the U.S. In Canada the same basket of goods costs 800 Canadian dollars and the exchange rate is 1.25 Canadian dollars per U.S. dollars. In Turkey the same basket of goods costs 2400 lira and the exchange rate is 3 lira per dollar. Which country has purchasing-power parity with the U.S.?
A)Both Canada and Turkey
B)Canada but not Turkey
C)Turkey but not Canada
D)neither Canada or Turkey

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The Answer of A basket of goods costs $800 in the U.S. In Canada the same basket of goods costs 800 Canadian dollars and the exchange rate is 1.25 Canadian dollars per U.S. dollars. In Turkey the same basket of goods costs 2400 lira and the exchange rate is 3 lira per dollar. Which country has purchasing-power parity with the U.S.?
A)Both Canada and Turkey
B)Canada but not Turkey
C)Turkey but not Canada
D)neither Canada or Turkey

A Basket of Goods Costs $800 in the U