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On average, the cost of a Big Mac in the U.S. is $4.62 (Feb 2014) If purchasing power parity holds, how much should the Big
On average, the cost of a Big Mac in the U.S. is $4.62 (Feb 2014) If purchasing power parity holds, how much should the Big Mac cost in China if the exchange rate is $1 = 6.14?
The actual average price of a Big Mac in China is approximately 16.6 RMB. How do you explain the difference between the price implied by PPP and the actual price?
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