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Assume the price of a Big Mac in the U.S. is $5.99 and the price in Turkey is 29 Turkish Lira (TRY). Thus, according to

Assume the price of a Big Mac in the U.S. is $5.99 and the price in Turkey is 29 Turkish Lira (TRY). Thus, according to PPP and the Law of One Price, at the current exchange rate the TRY is: A. undervalued B. Insufficient information to answer this question C. correctly valued D. overvalued

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