Answer to Question 5 on Problem Set 4 in Public Affairs 854:
Figure 1: Log relative price of Big Mac (to US) vs. log relative per capita income (to US). Regression line (red). Source: Economist, January 2026, and author’s calculations.
I’ve identified the countries the Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States listed as on the watch list.
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