1. Visit this Economist site www.economist.com/big-mac-index which includes a live table in which you can compare the December 2022 prices of Big Mac sandwiches sold at McDonalds across markets globally. The idea behind the Big Mac Index is that the sandwich should cost about the same everywhere because most of the ingredients are sold internationally. Flawed no doubt, but it has become a classic introduction to PPP. Please work with the table (try changing the base currency) and become aware of the currencies which seem to be over-valued and those which seem to be under-valued.
2. Visit fx.sauder.ubc.ca//PPP.html that presents updated data on the relative valuation of currencies against the USD, CAD, and EUR (euro). Please both read the material provided and study the tables as well.
3. Identify two currencies (a currency pair) for which one is significantly overvalued (the other then undervalued). Research the two currencies.
4. Submit a Word document to this assignment with a two/three paragraph report on why you feel that PPP has not been achieved between the two.