MXNUSD .047 in nominal currency exchange rate terms. A Big Mac costs $3.99 in the U.S. and 50 Pesos in Mexico. Please select the correct answer.

	I.	The Mexican Peso in undervalued. I am better off purchasing the Big Mac in Mexico.
	II.	The Mexican Peso in undervalued. I am better off purchasing the Big Mac in the U.S.
	III.	The Mexican Peso in overvalued. I am better off purchasing the Big Mac in Mexico.
	IV.	The Mexican Peso in overvalued. I am better off purchasing the Big Mac in the U.S.