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Observation

The finding , shown  in  chart 1, is that in  countries  with  a GDP per capita income  that is less than US$25K, typically the price of the Big Mac is greater, than the GDP per capita income, per US$10K. For the countries with a higher GDP per capita, the price of the Big Mac is less  than the GDP per capita income, per US$10K. The only exception is Switzerland.

Chart 2 shows that increasing the GDP per capita income does not have much influence on the Big Mac selling price in the particular country.

Country

GDP per capita income (US$)

Price of Big Mac (US$)

China

5,962

1.26

South Africa

10,109

1.86

Malaysia

14,215

1.33

Hungary

19,329

2.52

Czech Republic

24,712

2.13

New Zealand

27,027

2.65

Australia

35,677

2.27

Switzerland

42,534

4.90

USA

46,716

2.90

Singapore

49,288

1.92

The charts below help us visualize the data in our table.

Chart 1- Comparing Big Mac prices (US$) to per capita income (US$10k) of different countries

Chart 2 – The changes in Big Mac prices as the GDP per capita increases

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