Recall Application 1, "The Chinese Yuan and Big Macs," to Answer

question 123

Multiple Choice

Recall Application 1, "The Chinese Yuan and Big Macs," to answer the following questions:
-According to the application, the predicted purchasing power exchange rate in China is 3.49 yuan. This implies that:

• A) the cost of a Big Mac in China is 3.49 yuan.
• B) if the exchange rate is 3.49 yuan for one US dollar, then the Big Mac in both countries would cost the same.
• C) the US dollar should be worth 3.49 yuan more than the current exchange rate.
• D) the US dollar should be worth 3.49 yuan less than the current exchange rate.

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