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Previous Question info: Exchange rate between Yuan and Dollar is: 6.12= $1 Use the information from the previous question and assume the McDonald's Big Mac

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Previous Question info: Exchange rate between Yuan and Dollar is: 6.12= $1

Use the information from the previous question and assume the McDonald's Big Mac hamburger in the U.S. costs $4.50 and the Big Mac in China costs 20 Chinese yuan. Based on the PPP theory, what would you conclude about the value of Chinese yuan against the U.S. dollar according to the PPP

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