Purchasing Power
Trending Questions
Q.
Why are final goods and services counted?
Q. Which of the following measures allows us to compare the value of goods and services in different countries through a standardised basket of goods?
- Gross Domestic Product
- Gross National Product
- Unemployment rate
- Purchasing power parity
Q. Which of the following statements is true regarding purchasing power?
- It is the value of a currency in terms of the amount of goods or services that one unit of money can buy.
- It is the total value of all goods and services produced in a country.
- It is the rise in general price levels in an economy.
- It is the amount of money the citizens of a country keep in their wallets or handbags.
Q. Arrange the following economies from the largest to smallest in terms of PPP-GDP based on data from 2019.
- India
- China
- USA
- Japan
Q. Which of the following countries is the largest in terms of gross domestic product and purchasing power parity in 2019?
- China
- USA
- Germany
- Japan