题目内容
Purchasing power parity theory is a better guide to short-run movements in exchange rates than to long-run movements in exchange rates.
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The law of one price works well for heavily traded commodities, either at a point in time or for changes over time.
The law of one price does not hold closely for most products that are traded internationally, including nearly all manufactured products.
The law of one price is based on the purchasing power parity theory.
Usually, international arbitrage does not take place for non-traded products.
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