Question

If a Big Mac is selling in the United States for $3.45, what is the implied exchange rate between each of the currencies in the table?

Answer 1

The implied exchange rate cannot be determined without knowing the price of a Big Mac in another country.

Step-by-step explanation:

The implied exchange rate can be calculated by dividing the price of a Big Mac in the United States by the price of a Big Mac in another country. Since no specific country is mentioned in the question, we cannot determine the implied exchange rate. The exchange rate would depend on the price of a Big Mac in another country.