Based on Table 1, what is the price of an Australian Big Mac in U.S. dollars? 2.

Question

Based on Table 1, what is the price of an Australian Big Mac in U.S. dollars?

2. Based on Table 1, what is the PPP in Chile?

3. Based on Table 1, what is the real exchange rate in France?

4. Based on Table 1, which of the following country's currencies are undervalued?

A. Australia

B. Chile

C. France

D. All of the above

Gross Domestic Product (GDP), unlike Gross National Product (GNP), includes the value of goods and services produced by citizens abroad. True or False?

Based on Table 2, what is the sample mean income?

Based on Table 2, what is the sample variance?

Based on Table 2, what is the share of people living in poverty?

Based on Table 2, what is the total poverty gap?

False

Explanation / Answer

Answer 1;

Option A - $4.53. The price of Australian Mac in US dollar = $4.53

Answer 2:

Option B. 481.13

PPP in Chile = 2550 / 5.3 = 481.13

Answer 3:

Option D - 1.13. real Exchange rate = 0.88 * 5.3 / 4.1 = 1.13

Answer 4: Option B.

Chile has the most undervalued currency as i unit of dollar is equal to around 660 units of Chile currency.

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