Which of these statistics gives the most accurate measurement of buying power and the cost of living in a country?
A) GDP
B) GNP
C) PPP
D) HDI
E) IMF

Question

Quizplus · Accepted Answer

PPP (Purchasing Power Parity) takes into account the relative cost of living and inflation rates in different countries, giving a more accurate measure of buying power and the cost of living compared to just looking at GDP or GNP. HDI (Human Development Index) measures factors such as education and health in addition to income, but does not take into account inflation or cost of living. IMF (International Monetary Fund) is an organization that oversees the global financial system, but does not provide a specific measure of buying power or cost of living in a country.

Which of These Statistics Gives the Most Accurate Measurement of Buying