A.PPP appears to be of limited use as a short-run explanation of exchange rate movements.
B.PPP appears to be of limited use even as a short-run explanation of exchange rate movements.
C.PPP appears to be of limited use even as a long-run explanation of exchange rate movements.
D.Relative PPP appears to be of limited use even as a short-run explanation of exchange rate
E.None of the above statements is true.
Answer: C
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