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Which country has the higher GDP per capita measured in purchasing power, India or Mexico? a. Mexico's average income is more than double India's b. India's average income is more than double Mexico's c. Mexico and India have similar average incomes d. not enough information is provided

Which country has the higher GDP per capita measured in purchasing power, India or Mexico? a. Mexico's average income is more than double India's b. India's average income is more than double Mexico's c. Mexico and India have similar average incomes d. not enough information is provided

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter23: The International Trade And Capital Flows
Section: Chapter Questions
Problem 14SCQ: If domestic Investment increases, and there is no change in the amount of private and public saving,...
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10. We saw in class that PPP conversion factors are different from market exchange rates because they are based on the actual purchasing powers of currencies. The table below shows the GDP of different countries in their local currency along with their GDP at the market exchange rate, population, and the PPP conversion factor. country GDP in 2017 GDP (US$s, at market ex.) PPP factor population Japan 544¥ trillion $4.86 trillion 105 ¥/$ 127.5 million India 1713 trillion $2.65 trillion 20 3/$ 1339 million |Мexico 22 trillion pesos $1.16 trillion 11 pesos/$ 129 million Which country has the higher GDP per capita measured in purchasing power, India or Mexico? a. Mexico's average income is more than double India's b. India's average income is more than double Mexico's c. Mexico and India have similar average incomes d. not enough information is provided
Transcribed Image Text:10. We saw in class that PPP conversion factors are different from market exchange rates because they are based on the actual purchasing powers of currencies. The table below shows the GDP of different countries in their local currency along with their GDP at the market exchange rate, population, and the PPP conversion factor. country GDP in 2017 GDP (US$s, at market ex.) PPP factor population Japan 544¥ trillion $4.86 trillion 105 ¥/$ 127.5 million India 1713 trillion $2.65 trillion 20 3/$ 1339 million |Мexico 22 trillion pesos $1.16 trillion 11 pesos/$ 129 million Which country has the higher GDP per capita measured in purchasing power, India or Mexico? a. Mexico's average income is more than double India's b. India's average income is more than double Mexico's c. Mexico and India have similar average incomes d. not enough information is provided
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