1. The price of a Big Mac in Zealandia in January 2020 was Z$5.10. The table below shows Big Mac prices (in local currencies) in Anduslia, Indigos and the Unitia. Price of a Big Mac Actual exchange rate Anduslia A$4.80 0.79 (AD/ZD) Indigos Indi 80.4 41.64 (Indi/NZD) Unitia US$4.20 $0.82 (UD/ZD) (a) For each country, calculate the exchange rate of the local currency per New Zealand dollar implied by the theory of purchasing-power parity. Price of a Big Mac Purchasing power parity Actual exchange rate implied exchange rate Anduslia A$4.80 0.79 (AD/ZD) Indigos Indi 80.4 41.64 (Indi/ZD) Unitia U$4.20 $0.82 (UD/ZD) (b) If you wanted to profit by buying foreign currencies now and selling those currencies in the future (and you believed that long-run exchange rates adjust to maintain purchasing-power parity), which currencies should you buy