To most equitably compare the relative levels of economic development of different countries,and to adjust for their different currencies,it is best to use
A) Gross Domestic Product.
B) Gross Domestic Product per capita.
C) Gross National Income per capita.
D) Purchasing Power Parity.
E) Doubling Time.

Question

Quizplus · Accepted Answer

Purchasing Power Parity (PPP) adjusts for the differences in currency values and reflects the relative purchasing power of different countries. It takes into account the prices of goods and services and compares them across different countries, providing a more accurate measure of economic development compared to using just GDP or GNI per capita. PPP provides a better understanding of what a person can buy with their money in different countries.

To Most Equitably Compare the Relative Levels of Economic Development