According to the Big Mac Index, the implied exchange rate is the British pound 0.7127/$, but the actual exchange rate is 0.8115/$. Thus, at by_____ current exchange rates, the British pound appears to be a. undervalued; approximately 12% b. undervalued; approximately 14% c. overvalued; approximately 12% d. overvalued; approximately 12%

According to the Big Mac index, the implied exchange rate is the British pound 0.7127/$, but the actual exchange rate is f0.8115/$. Thus, at current exchange rates, the British pound appears to be by 3. undervalued; approximately 12% b. undervalued; approximately 14% c. overvalued; approximately 12% d. overvalued; approximately 12%