Table $4\mathrm{.}1$ The Hamburger Standard

Please answer question $2$ & $3,$ dissreguard question $1.$

Table 4.1 The Hamburger Standard Country USA Switzerland Denmark Britain Sweden Euro Area South Korea Ja an Taiwan Hon Kon China South Africa Russia Brazil A entina In local currency 2.54 6.30 24.75 1.99 24.0 2.57 3,000 294 70.0 10.2 9.9 9.70 35.00 3.30 2.50 In dollars 2.54 4.61 3.57 3.24 2.81 2.76 2.51 2.42 2.01 1.31 1.19 1.13 1.10 1.00 0.80 Implied ppp Of dollar 2.48 9.74 1.28 9.45 0.99 1,181 116 27.6 4.02 3.90 3.82 13.80 1.52 0.98 Actual exchange rate 1.37 6.92 1.63 9.45 0.93 1196.70 121.30 34.90 7.80 8.29 8.57 31.82 3.59 3.13 Local currency under (-)/over(+) valuation +81 +40 +27 +11 +6 -4 -21 -48 -53 -55 -58 -69 Case Questions: Name currencies of the fifteen countries listed in Table 5-2 and write down their traditional symbols. 2. Calculate the dollar price of a Big Mac (column 3), the implied PPP of the dollar (column 4), and the local currency under (-)/ over (+) valuation (column 6) for Denmark and Hong Kong. In 2003, it cost $0.80 to buy a Big Mac in Argentina, $2.54 to buy a Big Mac in 3. the United States, and $4.61 to buy a Big Mac in Switzerland. How do we explain these deviations from PPP?