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Question

Which of the following measures allows us to compare the value of goods and services in different countries through a standardised basket of goods?

A
Gross Domestic Product
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B
Gross National Product
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C
Unemployment rate
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D
Purchasing power parity
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Solution

The correct option is D Purchasing power parity
Purchasing power parity is a measure used to compare the value of goods and services in different countries through a standardised basket of goods. The PPP indicates how much goods can be bought from the basket of goods using the currency of a particular country.

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