For the full year of 2019, India's gross domestic product (GDP) was $2.875 trillion when measured in current U.S. dollars. However, when measured on a purchasing power parity (PPP) basis, India's GDP was $11.33 trillion. U.S. GDP was $21.43 trillion in 2019. a) Based upon this data, is the Indian rupee undervalued or overvalued relative to the U.S. dollar? Explain your answer. b) What is the real USD/INR exchange rate implied by PPP? c) Why might this analysis be flawed, or at least imprecise?