If the Price for a Big Mac in the US

question 26

Multiple Choice

If the price for a Big Mac in the US is $2.00 and the price for a Big Mac in the UK is ₤3,what is the absolute purchasing-power parity equilibrium exchange rate between the dollar and the Euro (using the dollar as the domestic currency) ?

• A).667
• B)1.5
• C).333
• D)None of the above

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