Question

Advantages of purchasing power parity theory

Answer 1

ADVANTAGES OF PPP THEORY Purchasing power parity is important for developing reasonably accurate economic statistics to compare the market conditions of different countries. For example, purchasing power parity is often used to equalize calculations of gross domestic product. Because purchasing power can vary from country to country, the statistic for GDP based on purchasing power parity is often different than nominal GDP -- GDP as described by currency exchange alone.
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