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in China a Big Mac costs Yuan 17.13 (local currency), while in the United States the same Big Mac costs $4.61. The actual spot exchange
in China a Big Mac costs Yuan 17.13 (local currency), while in the United States the same Big Mac costs $4.61. The actual spot exchange rate was Yuan 6.2181=$1. According to purchasing power parity, calculate the degree to which the either undervalued (-%) or overvalued (+%) versus the U.S. dollar. The result must be provided in percentage
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