what is purchasing power parity ? difine in easy language
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Macroeconomic analysis relies on several different metrics to compare economic productivity and standards of living between countries and across time. ... Purchasing power parity(PPP) is an economic theory that compares different countries' currencies through a "basket of goods" approach.
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Macroeconomic analysis relies on several different metrics to compare economic productivity and standards of living between countries and across time. One popular metric is purchasing power parity (PPP).
Purchasing power parity (PPP) is an economic theory that compares different countries' currencies through a "basket of goods" approach. According to this concept, two currencies are in equilibrium or at par when a basket of goods (taking into account the exchange rate) is priced the same in both countries. Closely related to PPP is the law of one price (LOP), which is an economic theory that predicts that after accounting for differences in interest rates and exchange rates, the cost of something in country X should be the same as that in country Y in real terms.
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Purchasing power parity (PPP) is an economic theory that compares different countries' currencies through a "basket of goods" approach. According to this concept, two currencies are in equilibrium or at par when a basket of goods (taking into account the exchange rate) is priced the same in both countries. Closely related to PPP is the law of one price (LOP), which is an economic theory that predicts that after accounting for differences in interest rates and exchange rates, the cost of something in country X should be the same as that in country Y in real terms.
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