Discussion Post: Global Economics
The Economist magazine has observed that the price of Big Macs is systematically positively related to a country's income level, just as is the general price level. Now go to The Economist's Big Mac standard website and download the Excel spreadsheet containing the data on under/overvaluation of currencies. Furthermore, go to the World Bank's World Development Indicators website and find the most recent data on GNI (Gross National Income) per capita, PPP, for all countries.
Now:
1) Use these data, together with The Economist data on Big Mac dollar prices, to make a graph of income per capita (horizontal axis) versus dollar Big Mac price (vertical axis).
2) What do you find? (select only 20 countries and the date 2018)
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.