Purchasing Power Parity
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Purchasing Power Parity (or PPP) refers to differences in price levels among countries, as opposed to Gross National Product, which supposedly measures total economic output.[1] For example, the Big Mac Index is said to measure the amount of time in labor in various cities throughout the world to purchase one McDonald's Big Mac.
References
- â Almond, Gabriel A. Comparative Politics Today: A World View. New York: Pearson, 2004.