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8. (9 points) Consider the Big Mac index and its price differential among countries. a....

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8. (9 points) Consider the Big Mac index and its price differential among countries. a. Which factors contribute the most to the price differentials and which factors are pushing toward price equilibrium? b. Compare real estate to a Big Mac with respect to the factors you mentioned in part a. Would you expect a larger or smaller price differential in the price of real estate among countries compared with the Big Mac price differential? Why? 8. (9 points) Consider the Big Mac index and its price differential among countries. a. Which factors contribute the most to the price differentials and which factors are pushing toward price equilibrium? b. Compare real estate to a Big Mac with respect to the factors you mentioned in part a. Would you expect a larger or smaller price differential in the price of real estate among countries compared with the Big Mac price differential? Why

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