Assuming that purchasing-power parity holds

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(Purchasing-power parity) A Mc Donald’s Big Mac costs 2.44 yuan in china, but costs $4.20 in the United States. Assuming that purchasing-power parity (PPP) holds, how many Chinese yuan are required to purchase 1 U.S. dollar?

Reference no: EM131075709

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Assuming that purchasing-power parity holds : (Purchasing-power parity) A Mc Donald’s Big Mac costs 2.44 yuan in china, but costs $4.20 in the United States. Assuming that purchasing-power parity (PPP) holds, how many Chinese yuan are required to purchase 1 U.S. dollar?

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