Question: a According to The Big Mac Index published by The Economist, a Big Mac costs 3.29 in Britain and US$5.74 in the United States. The

a According to The Big Mac Index published by The Economist, a Big Mac costs 3.29 in Britain and US$5.74 in the United States. The implied exchange rate is 0.57/US$1. The difference between this and the actual exchange rate, 0.80/US$1, suggests that the British pound is 28.5% undervalued. What is the price of a Big Mac in Britain in USS? 3.29/0.57=US$5.74 O 3.29*0.80=US$2.63 O 3.29/0.80=US$4.11 O 3.29*0.57=US$1.88

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