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he price of a Big Mac in the US is US$5.66, while in South Africa it is R33.5 (South AfricanRands). The market exchange rate is
he price of a Big Mac in the US is US$5.66, while in South Africa it is R33.5 (South AfricanRands). The market exchange rate is US$1=R15.5. The GDP per capita for South Africa in Rands is R93000, and for the US is US$65000. The US$GDP per capita of South Africa using market exchangerates relative to the US$GDP per capita of South Africa using Big Mac exchange rate is
(a) 0.09
(b) 0.17
(c) 0.24
(d) 0.38
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