Question
Is the travel advisors' claim that Argentina is less expensive than Chile corroborated by the relative price of Big Mac in Argentina and Chile in
Is the travel advisors' claim that Argentina is less expensive than Chile corroborated by the relative price of Big Mac in Argentina and Chile in December 2020? Please use The Economist's website for the Big Mac Index, https://www.economist.com/big-mac-index, to find by what percentage the nominal dollar price of Big Mac in Chile, PC, was higher than the nominal price of Big Mac in Argentina, PA, in December 2020; that is, calculate (PC - PA)/PA and express it as a percentage with one decimal point. Based on this calculation, is the claim corroborated?
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