A candidate from Iceland gets the following two job offers, one from the US and...
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Finance
A candidate from Iceland gets the following two job offers, one from the US and one from UK. The job in UK pays 50,000 a year in UK. The exchange rate in the market is $1.25 per pound and the PPP based exchange rate is $1.20 per pound. How much should the job in the US offer in order to provide the same standard of living as the job in UK?
Group of answer choices
$50,000
$60,000
$55,000
$65,000
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