Jul
24

Meaty Measurement

The Friday File: Assuming exchange rates and prices eventually adjust to make the same item equally priced everywhere, the Big Mac Index was developed. In Switzerland, a Big Mac is a whopping $6.82, its currency is hopelessly overvalued. In Russia, $1.88. Putin, clearly a meaty monetary master. These numbers should be taken with a grain of salt and side of ketchup; economic theories, like Purchasing Power Parity, may oversimplify things.

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