The idea that commodities have the same value no matter where they are purchased or what currency is used is known as _____ parity.

Name: The idea that commodities have the same value no matter where they are purchased or what currency is used is known as _____ parity.
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Question

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Absolute purchasing power parity is the economic theory that states the price of goods in different countries should be equal when expressed in a common currency, reflecting the idea that commodities have the same value everywhere.

The Idea That Commodities Have the Same Value No Matter