the price of a Big Mac was
$3.57 in the United States (varies by store) the price of a Big Mac was --2.29 in the United Kingdom (varies by region) the implied purchasing power parity was
$1.56 to --1, that is
$3.57/--2.29 = 1.56. this compares with an actual exchange rate of
$2.00 to --1 at the time.
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