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Purchasing power parity (PPP) is the rate of currency conversion that equalizes the purchasing power of different currencies, by eliminating the differences in price levels between countries.

2 votes
1 answer
123 views

Is there any up-to-date list of hours of work needed to buy a Big Mac?

Is there any up-to-date list of hours of work needed to buy a Big Mac? I have found only up to 2018.
user366312's user avatar
1 vote
1 answer
52 views

Do polish people have more purchasing power than that of the Irish?

The following table was taken from data.oecd.org: This link gives the Big Mac index. Big Mac Index of Ireland = 4.61 Big Mac Index of Poland = 2.65 Does this mean that Polish people in Poland have …
user366312's user avatar
-1 votes
1 answer
97 views

Why is Pakistan's GDP higher than Bangladesh in PPP but lower in Nominal?

Why is Pakistan's GDP higher than Bangladesh in PPP but lower in Nominal? Kindly explain in layman's terms.
user366312's user avatar