Choose the correct definition of purchasing power parity. In the long run, a unit of currency can buy the same quantity of goods and services anywhere in the world.
In the long run, a unit of currency buys the same amount of a good for a poor person as a rich person.
The currency exchange rate between two nations will always gravitate toward 1 to 1.
The exchange rate from currency A into currency B is the reciprocal of the rate from B into A.

According to this excerpt, a key part of our national security strategy is

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)

Qwest airlines has implemented a program to recycle all plastic drink cups used on their aircraft. their goal is to generate $7 million by the end of the recycle program's five-year life. each recycled cup can be sold for $0.005 (1/2 cent). a. how many cups must be recycled annually to meet this goal? assume uniform annual plastic cup usage and a 0% interest rate. b. repeat part (a) when the annual interest rate is 12%. c. why is the answer to part (b) less than the answer to part (a)?