Question: explain please! 15. Please use the data below, to answer the following question. BigMac price in the US BigMac price in Japan Current Exchange Rate

explain please!

15. Please use the data below, to answer the following question. BigMac price in the US BigMac price in Japan Current Exchange Rate USD 3.25 JPY 290 1 USD = JPY 100 Based on PPP, the JPY is a. overvalued by 10.77% b. undervalued by 12.07% c. overvalued by 12.07% d. undervalued by 10.77%

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