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they go toegether 27,28 Question 37 Given the information: Price of a BigMac in US: USD 3.75 Price of a Big Mac in Japan: JPY

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Question 37 Given the information: Price of a BigMac in US: USD 3.75 Price of a Big Mac in Japan: JPY 320 Exchange rate of JPY in Indirect Quote (JPY/USD): | 1 USD = 120 JPY Based on PPP, the JPY is currently against USD overvalued undervalued Question 38 Given the information: Price of a BigMac in US: USD 3.75 Price of a BigMac in Japan: JPY 320 Exchange rate of JPY in Indirect Quote (JPY/USD): | 1 USD = 120 JPY Based on absolute PPP violations described above, it would make sense for a US company doing business in Japan to: produce in Japan and sell in the US produce in the US and sell in Japan

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