Examlex
The "Big Mac Theory of Exchange Rates" tests the accuracy of purchasing power parity theory.In July 2015,The Economist reported that the average price of a Big Mac in the United States was $4.79.In Switzerland,the average price of a Big Mac at that time was 6.50 Swiss francs.If the exchange rate between the dollar and the Swiss franc was 0.93 Swiss francs per dollar,explain how it would be profitable to buy Big Macs in the United States instead of in Switzerland.
Dodd-Frank Act
A comprehensive piece of financial regulation legislation passed in 2010 in response to the 2008 financial crisis, aimed at reducing risks in the U.S. financial system.
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