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The Big Mac Index demonstrates the concept of Purchasing Power Parity. If the current price of a Big Mac hamburger in the United States is
The Big Mac Index demonstrates the concept of Purchasing Power Parity. If the current price of a Big Mac hamburger in the United States is $3.80, and the current price of the same burger in Germany is €2.75, what is the implied exchange rate of dollars per euro?
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
