In France and Spain,a Big Mac costs 1 euro.Yet the standard of living is higher in ________.
A) Spain if a Big Mac is only a small part of people's consumption and Spain's GDP per capita is higher
B) France if its exchange rate is higher
C) Spain if all other goods are cheaper in Spain than in France
D) France if all other goods also cost the same in Spain and France but the GDP per capita is higher in France

Question

Quizplus · Accepted Answer

The standard of living is higher in France if all other goods cost the same in both countries but France has a higher GDP per capita, indicating more wealth and resources per person.

In France and Spain,a Big Mac Costs 1 Euro