Question: Question 14 Please use the data below, to answer the following question. BigMac price in the US BigMac price in Europe Current Exchange Rate O1

Question 14 Please use the data below, to answer the following question. BigMac price in the US BigMac price in Europe Current Exchange Rate O1 USD 0.81 EUR 1 USD -0.70 EUR O1 USD - 1.23 EUR USD 4.00 1 USD 1.43 EUR EUR 3.25 What is the PPP exchange rate where the price of a Big Mac will be identical in the US and Europe? 1 USD EUR 0.70 10 pts

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