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Question
The average price of a Big Mac in the United States is $3.58. Which of the following currencies is the most overvalued according to the Big Mac Index?
A. Japanese yen; average price of a Big Mac equals $3.50
B. South African rand; average price of a Big Mac equals $2.46
C. Norwegian krone; average price of a Big Mac equals $7.02
D. Chinese yuan; average price of a Big Mac equals $1.83
E. Swiss franc; average price of a Big Mac equals $6.80
Answer
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