What is Gdp ppp how it is calculated
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Purchasing power parity refers to the exchange rate of two different currencies that are going to be in equilibrium and PPP formula can be calculated by multiplying the cost of a particular product or services with the first currency by the cost of the same goods or services in US dollars.
So, the value of final goods and services produced in each sector during a particular year, provides the total production of the sector for that year. And the sum of production in three sectors gives us the 'Gross. Domestic Product or GDP'.
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