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Level adjusted by purchasing power parity

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In 2015 the same McDonald's Big Mac is sold at $4.79 in the U.S., and $3.11 inMexico (price of local currency converted to U.S. dollars). Suppose the Big Macrepresents a market basket of goods through which the purchasing power of $1 intwo countries can be compared. Given Mexico's nominal GDP in 2015 is roughly$1.144 trillion, what is Mexico's GDP level adjusted by Purchasing Power Parity(PPP)?

Reference no: EM131249648

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