Answered: The implied exchange rate based on PPP…

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Economics

The implied exchange rate based on PPP is ________Rand/$.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The price of a Big Mac is 36 Rand in South Africa, and 4.6 U.S dollar in the U.S. The implied exchange rate based on PPP is ________Rand/$.

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