$8.$ A case study in the chapter analyzed purchasingpower$$parity for several countries using the price of$$Big Macs. Here are data for a few more countries:$$Country$$Price of a$$Big Mac$$Predicted$$Exchange$$Rate$$Actual$$Exchange$$Rate$$Chile $2,100$ pesos $\_\_\_\_\_$ pesos$/$$ $715$ pesos$/$$$$Hungary $900$ forints $\_\_\_\_\_$ forints$/$$ $293$ forints$/$$$$Czech$$Republic$75$ korunas $\_\_\_\_\_$ korunas$/$$ $25\mathrm{.}1$ korunas$/$$$$Brazil $13\mathrm{.}5$ real $\_\_\_\_\_$ real$/$$ $4\mathrm{.}02$ real$/$$$$Canada $5\mathrm{.}84$ C$ $\_\_\_\_\_$ C$$/$$ $1\mathrm{.}41$ C$$/$$$$a$.$ For each country, compute the predicted exchange$$rate of the local currency per U$.$S$.$ dollar. $($Recall$$that the U$.$S$.$ price of a Big Mac was $$4\mathrm{.}93.)$b$.$ According to purchasing$-$power parity, what is the$$predicted exchange rate between the Hungarian$$forint and the Canadian dollar? What is the actual$$exchange rate?$$c$.$ How well does the theory of purchasing$-$power$$parity explain exchange rates?