The Average Price of a Big Mac in the United

question 98

Multiple Choice

The average price of a Big Mac in the United States is $3.58.If the "Big Mac Index" is an accurate indicator,which of the following currencies would be the most overvalued?

• A)Japanese yen;average price of a Big Mac equals $3.50
• B)South African rand;average price of a Big Mac equals $2.46
• C)Norwegian krone;average price of a Big Mac equals $7.02
• D)Chinese yuan;average price of a Big Mac equals $1.83

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Definitions:

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging from 0 (acid) to 14 (basic).

Bromecresol Purple

A pH indicator dye that changes color from yellow to purple over a pH range of approximately 5.2 to 6.8, commonly used in laboratory settings.

Buffers

Substances that help maintain the pH balance in a solution, resisting changes in pH when acids or bases are added.

Alkaline

Referring to a basic, as opposed to acidic, substance with a pH level greater than 7.