What is purchasing power parity?
What will be an ideal response?
Purchasing power parity means "equal value of money," that is, the exchange rate adjusts so that one currency can buy the same amount of goods and services as another currency.
Economics
You might also like to view...
In 2012, the world's population surpassed
a. 3.5 billion. b. 1 billion. c. 10.5 billion. d. 7 billion.
Economics
Which of the following was NOT a major claim of Fogel and Engerman (1974) in their work on slavery?
(a) Slavery was profitable for Southerners. (b) Slavery slowed the mechanization of the plantations. (c) Slaves were treated fairly well. (d) Slavery was efficient.
Economics