Today you will be carrying on with Global Economics
GDP: Gross Domestic Product, the total $ made in a country
PPP: Purchasing Power parity. The amount of money something costs adjusted for GDP and exchange rates.
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1. Explain PPP?
2. Where are Big Macs relatively expensive?
3. Where are they relatively inexpensive?
4. What factors would influence the price in these countries?
5. Why is the Big Mac index potentially useful?
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