The management team at Home Help,a consumer products manufacturer,is considering entering several different foreign markets and is in the process of analyzing each potential market's economic environment.Which of the following measures would best help the management team understand the comparative cost of consumer products in each market?
A)gross national product (GNP)
B)the Big Mac Index
C)the per capita gross domestic product (GDP)
D)the standard of living
E)gross domestic product (GDP)

Question

Quizplus · Accepted Answer

The Big Mac Index is a measure of purchasing power parity between different countries by comparing the cost of a Big Mac burger across countries. This measure can provide insight into the comparative cost of consumer products in each market. GNP, per capita GDP, and GDP can be useful measures for analyzing economic environments, but they may not directly reveal the cost of consumer products. The standard of living is a broader concept that encompasses various factors, including economic conditions, but may not specifically address the cost of consumer products.

The Management Team at Home Help,a Consumer Products Manufacturer,is Considering