According to purchasing-power parity, if it took 58 indian rupees to buy a dollar today, but it took 55 to buy it a year ago, then the dollar has:

Given that,

Current exchange rate between India and U.S :

1 Dollar = Rs. 58

Exchange rate between India and U.S a year ago :

1 Dollar = Rs. 55

Above information conclude that the currency of India depreciates whereas  currency of united states appreciates.

This is due to the increase in the exchange rate in India. Now, a dollar become more expensive than it a year ago.

So, the Indian rupee depreciated and U.S dollar appreciated.

hi there, i would say your answer is:

b. there is a fixed quantity of resources and technology available.

hope that : )

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