The table below reports the price of a Big Mac in various countries, and the exchange rate relative to the US. dollar. Price in domestic currency Exchange rate (foreign currency per dollar) Price in U.S. dollars US. dollar 5.58 1.00 $5.58 Chinese yuan 20.90 6.85 3.05 Indian rupee 178.00 69685 2.55 Japanese yen 390.00 108.44 3.60 Mexican peso The Big Mac Index 49.00 Use the information in the table to answer the questions below. 19.31 2.54 Consider Japan. Holding the exchange rate and the price of a Big Mac xed, if purchasing power parity (PPP) held perfectly, the price of a Big Mac in Japan should be yen (round your answers to two decimal places). Part 2 (1 point) 0 See Hint Consider Japan. Holding the prices of a Big Mac xed in Japan and the United States, if PPP held perfectly, the exchange rate should be yen per dollar (round your answers to two decimal places). Part 3 (1 point) 0 See Hint From parts 1 and 2, we can see that PPP does not hold perfectly. Either the dollar is overvalued, or the price of a Big Mac in the foreign country is too low for the exchange rates given. Which of the following are most likely to be reasons why PPP does not hold perfectly in the case of Big Macs