1.According to the "Big Mac" index, if a Big Mac costs $2.28 in the United States and 48 baht in Thailand (equivalent to $1.91), the baht is an undervalued currency.

	True
	False

2.Day-to-day influences on foreign exchange rates always cause rates to move in the same direction as changes in long-term market fundamentals.

	True
	False

3. A forward premium on the British pound serves as a rough benchmark of the expected rate of appreciation in the pound's spot rate.

	True
	False