wonderuf.blogg.se - Cost of a big mac in libya

In American dollars, a medium Big Mac value meal at McDonalds was $13.5! Although it tastes somewhat different (Luckily, it’s better than at home, and rightfully so, I could eat about 11 damn McChickens for that price!), I can’t say it merits 12.5 Francs. First and foremost, as you can tell by my elegant choice of title, it’s outlandishly expensive. Let me give you a little background information on Geneva. I just got back from Geneva, Switzerland yesterday and I figured I am going to be in the Veesh for a while, so no need to rush into that (Seriously, you’re not missing much anyway lol). So I know I said my next post was going to be Vichy, but I lied. W Publications at Monday everybody, hope everyone had a great weekend/SB11.

Have your students calculate Big Mac inflation (or deflation) from year to year and compare it to the government’s measure of inflation calculated from the consumer price index and listed in this table.įor a wide variety of classroom ready materials to teach everyday economics and financial literacy visit C.

Have your students create a list of all the costs included in the price of a Big Mac.

Ask your students why they think the price of a Big Mac would be a good or bad measure of inflation in the United States.

Here are some ways to use these Big Mac price changes in class: To determine the Big Mac inflation or deflation rate for any one-year period, subtract the previous year’s price from the current year’s price, divide the answer by the previous year’s price and round to the nearest 1/10th percent. To determine this cost, The Economist takes the average cost of the Big Mac in New York, San Francisco, Chicago and Atlanta each year. The following table lists the cost of a Big Mac in the United States from 1986 through 2011. While we are not concerned here with exchange rates, we can borrow their Big Mac prices.

The well respected magazine, The Economist, began using the price of the Big Mac in 1986 to create the Big Mac Index, a lighthearted, but serious way to compare exchange rates between world currencies to determine which are overvalued or undervalued.

Yes, even the skyrocketing price of oil affects the price of a Big Mac since diesel fuel must be used to transport food products to McDonald’s restaurants. As these costs increase because of growing demand around the world, the price of a Big Mac has to go up.

If you think about it, the price of a Big Mac represents a wide variety of inflation factors all on a sesame seed bun - from the cost of food commodities (such as beef and wheat) to the price of oil. But since it is always on the McDonald’s menu here and around the world, it is a useful measure of inflation that everyone can relate to. Okay, let me begin by saying that a Big Mac is not the greatest nutrition choice (540 calories, 29 grams of fat, 1040 mg.