Question 2: In a recent Economist article on Burgernomies, the price of a Big Mac was quoted as 14.6 yuan in China while the price of a Big Mac in the U.S. as $3.?1. The market foreign exchange rate is 6.66 yuan per $. a. What is the PPP exchange rate implied by the Big Mac prices? (3 points) b. Is the yuan \"over\" or \"under" valued? (3 points) 0. What are some reasons for failure of the Absolute version ofPPP? (-5 points)