10. Problems and Applications Q8 A case study in the chapter analyzed purchasing-power parity for several countries using the price of Big Macs. Here are data for a few more countries: For each country, select the predicted exchange rate of the local currency per U.S. dollar. (Hint: Recall that the U.S. price of a Big Mac was $5.58.) Country Price of a Big Mac Predicted Exchange Rate Actual Exchange Rate Colombia 11,900 pesos 3,192 pesos/$ Sri Lanka 580 rupees 182 rupees/s Russia 110 rubles 67 rubles/ Saudi Arabia 12 riyals 3.75 riyals/$ France 4.05 0.87 /$ According to purchasing-power parity, the predicted exchange rate between the Sri Lankan rupee and the euro is rupees per euro. However, the actual exchange rate is rupees per euro