Question: Purchasing Power Parity. As we discussed in the chapter, one of the more famous examples of a violation of absolute purchasing power parity is the Big Mac index calculated by The Economist. This index calculates the dollar price of a McDonald's Big Mac in different countries. You can find the Big Mac index by going to www.economist.com. Using the most recent index, which country has the most expensive Big Macs? Which country has the cheapest Big Macs? Why is the price of a Big Mac not the same in every country?