John Davison Rockefeller was an American industrialist who founded the Standard Oil Company in 1870. He later founded and bought several other companies and became the world's richest man. He also founded and donated large amounts of money to philanthropic organizations. Rockefeller's career is an excellent example of what the textbook refers to as

Suppose a starbucks tall latte cost $4.00 in the united states, 5.00 euros in the euro area and $2.50 australian dollars in australia. nominal exchange rates are .80 euros per dollar and 1.4 australian dollars per u.s. dollar. where does purchasing power parity hold? a. both the euro area and australia. b. neither the euro area or australia. c. the euro area but not australia. d. australia but not the euro area.