Why do you think big mac index turn out to pretty successful, Macroeconomics

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Why do you think big mac index turn out to pretty successful

Problem

The "Big Mac Index" was originally presented somewhat jokingly, as a manifestation of the purchasing power parity theory. Read the Wikipedia article on the Big Mac index. It turns out that the Big Mac Index often does a remarkably good job of representing purchasing power parity and is used as a real measure of analyzing currency exchange rates. Why do you think the Big Mac index turns out to be pretty successful after all?

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