Consider the following statements
1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
2. In terms of PPP dollars, India is the sixth-largest economy in the world.
Which of the statements given above is / are correct?

1 only

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2 only

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Both 1 and 2

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None of the above

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Solution

The correct option is A 1 only
In terms of PPP dollars, India is the third-largest economy in the world. Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts. It compares different countries' currencies through a "basket of goods" approach. Purchasing power parity (PPP) allows for economists to compare economic productivity and standards of living between countries. Some countries adjust their gross domestic product (GDP) figures to reflect PPP.

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Similar questions

Q. With reference to the Purchasing Power Parity (PPP), consider the following statements:

Which of the statements given above is/are correct?

Q. क्रय शक्ति समानता (Purchasing Power Parity-PPP) के संदर्भ में निम्नलिखित कथनों पर विचार कीजिए:

PPP की गणना उन वस्तुओं एवं सेवाओं के सामान्य समूह के आधार पर की जाती है, जिसे स्थानीय मुद्रा किसी अन्य देश में खरीद सकती है।
विश्व बैंक का अंतर्राष्ट्रीय तुलनात्मक कार्यक्रम (International Comparison Programme-ICP) PPP का उपयोग प्रतिभागी देशों हेतु तुलनीय अंतर्राष्ट्रीय मूल्य प्राप्त करने के लिए करता है।
PPP की दृष्टि से भारतीय अर्थव्यवस्था विश्व की पाँचवी सबसे बड़ी अर्थव्यवस्था है।

उपर्युक्त में से कौन सा/से कथन सही है/हैं?

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