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2 for 5 dollar big mac 20184/24/2023 It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services (in this case, a burger) in any two countries.īurgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible. ![]() T HE BIG MAC index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level.
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