What is measured by comparing the relative cost of a standard of goods and services in different geographic areas?

Name: What is measured by comparing the relative cost of a standard of goods and services in different geographic areas?
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Quizplus · Accepted Answer

Comparing the relative cost of a standard of goods and services in different geographic areas is a way to measure purchasing power, which refers to the ability of consumers in different locations to buy comparable products with their income.

What Is Measured by Comparing the Relative Cost of a Standard