1. Assume $1 = ¥117.92 = £.6392. If a TV in London costs £430, what will that identical TV cost in Tokyo if absolute purchasing power parity exists?
¥32,411.02
¥79,326.66
¥98,001.28
¥82,880.09
2. The camera you want to buy costs $399 in the U.S. If absolute purchasing power parity exists, the identical camera will cost _____ in Australia if the exchange rate is A$1 = $.8526.
A$340.19
A$393.23
A$435.09
A$467.98