Burgernomics: How can a burger determine the value of a currency?
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The price of burgers has always been a reliable indicator of the state of the economy. When the economy is good, people are willing to spend more money on beef and other luxury items.
McDonald's global popularity is likely why the Big Mac was chosen as the cheapest hamburger to fill with economic indicators for many countries.
The Economist devised this interactive comparison tool in 1986 called The Big Mac Index. It was intended to serve as a guide when viewed in comparison with the exchange rates of various currencies. Or put it this way: A tool to measure currency exchange rates.
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Countries also use Big Mac burgers as an economic indicator to understand purchasing power.
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