Purchasing power parity (PPP) data compares the cost of living between countries by examining the costs of similar goods and services. This method helps to assess how much currency is needed to purchase the same goods and services in different countries, allowing for a more accurate comparison of living standards and economic productivity across nations.
How does purchasing power parity (PPP) data compare the cost of living between countries?(1 point)
Responses
by dividing by the population of a country
by dividing by the population of a country
by summing the value of all the goods and services produced in a country
by summing the value of all the goods and services produced in a country
by combining health, education, and income indicators into a score that ranges from 0 to 1
by combining health, education, and income indicators into a score that ranges from 0 to 1
by examining the costs of similar goods and services
1 answer