According to January 16th, 2019, issue of the Economist, the current price of Big Mac in US
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Question:
According to January 16th, 2019, issue of the Economist, the current price of Big Mac in US is around $3.73, while the price of Big Mac in Japan is around JPY 320. The current exchange rate is JPY 82.5/$. What is the implied exchange rate between USD and Japan based on the Big Mac?
Related Book For
Macroeconomics Principles, Applications, and Tools
ISBN: 978-0132555234
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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