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Please send me before 2:00 pm Question 3 5 points Save / A Big Mac costs USD$4.79 in New York. In Toronto, it costs CAD$5.70.

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Please send me before 2:00 pm

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Question 3 5 points Save / A Big Mac costs USD$4.79 in New York. In Toronto, it costs CAD$5.70. On the foreign exchange markets, 1 US Dollar can be exchanged for 1.26 Canadian Dollars. a) What does the Big Mac Index predict the CAD should be worth in USD? b) Is the CAD over- or under-valued against the USD? Make sure to show your work For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)

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