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2) suppose the price of the big mac in 2020 in the united states was $5.50 and SKr 48.4 in sweeden and the exchange rate
2) suppose the price of the big mac in 2020 in the united states was $5.50 and SKr 48.4 in sweeden and the exchange rate between the sweedish kroner and rhe us dollar was given by Eskr/$ = SKr8.89/$. Based on this information in 2020 qsweeden/US was ____, the us dollar was ____ agains kroner, and the us dollar was expected to have a real ___
a) 1.0204; overvalued; depreciation
b)0.9799;undervalued; appreciation
c) 1.0204;undervalued; appreciation
d) 0.9799;overvalued; depreciation
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