Which of the following is a tool that measures the relative cost of a common market basket of goods and services for comparing cost of living between countries?

Question

Quizplus · Accepted Answer

Purchasing power parity (PPP) is a tool used to compare the cost of living between countries by measuring the relative cost of a common basket of goods and services. It adjusts for differences in price levels between countries, allowing for more accurate comparisons of economic well-being.

Which of the Following Is a Tool That Measures the Relative