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Question 14 Please use the data below, to answer the following question. BigMac price in the US BigMac price in Europe Current Exchange Rate O1

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Question 14 Please use the data below, to answer the following question. BigMac price in the US BigMac price in Europe Current Exchange Rate O1 USD 0.81 EUR 1 USD -0.70 EUR O1 USD - 1.23 EUR USD 4.00 1 USD 1.43 EUR EUR 3.25 What is the PPP exchange rate where the price of a Big Mac will be identical in the US and Europe? 1 USD EUR 0.70 10 pts

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