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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

Answer & Explanation Solved by verified expert
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