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Assume the price of a Big Mac in the U.S. is $7.99 and the price in Turkey is 39 Turkish Lira (TRY). Thus, according to

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Assume the price of a Big Mac in the U.S. is $7.99 and the price in Turkey is 39 Turkish Lira (TRY). Thus, according to PPP and the Law of One Price, at the current exchange rate the TRY is: Ltfen birini sein: a. undervalued b. Insufficient information to answer this question c. overvalued d. correctly valued

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