1 The Latin American Big Mac Index: Historical Comparison. This textbook has used The Economist magazine's Big...

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1 The Latin American Big Mac Index: Historical Comparison. This textbook has used The Economist magazine's Big Mac Index for many years. Below are the Big Mac prices and actual exchange rates for select Latin American countries as printed in previous editions. Use the data in the table to complete the calculation of the implied PPP value of the cur- rency versus the U.S. dollar and the calculation as to whether that currency is undervalued or overvalued versus the U.S. dollar

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