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purchasing-power parity |
Also found in: Financial, Wikipedia | 0.04 sec. |
purchasing-power paritySystem for comparing standards of living between different countries. Comparing the gross domestic product of different countries involves first converting them to a common currency (usually US dollars or pounds sterling), a conversion which is subject to large fluctuations with variations in exchange rates. Purchasing-power parity aims to overcome this by measuring how much money in the currency of those countries is required to buy a comparable range of goods and services. |
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