If the Current Exchange Rate Is 113 Japanese Yen Per

question 25

Multiple Choice

If the current exchange rate is 113 Japanese yen per U.S. dollar, the price of a Big Mac hamburger in the United States is $3.41, and the price of a Big Mac hamburger in Japan is 280 yen, then other things equal, the Big Mac hamburger in Japan is:

• A) correctly priced.
• B) under priced.
• C) over priced.
• D) There is not enough information to determine if the price is appropriate or not.

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