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a. What should have been the exchange rate in January 2003 if PPP held? b. By what percamage was the Argensine peso undervalued on an

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a. What should have been the exchange rate in January 2003 if PPP held? b. By what percamage was the Argensine peso undervalued on an annualked basas? c. What were the probable causes of undervaluation? a. What thould heve been the exchange rate in January 2003 \& PPP held? The excharge rate in January 2009, \& PPP nold, shoudd nuwe been PI i. Bround wo five decimal places.)

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