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Suppose that a Big Mac costs $2.5 in the US and 275 yen in Japan today. If the actual exchange rate is yen105/$ in the
Suppose that a Big Mac costs $2.5 in the US and 275 yen in Japan today. If the actual exchange rate is yen105/$ in the market. How much is the Big Mac PPP exchange rate?
100/$
107/$
110.5/$
110/$
115/$
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