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Edexcel A-Level Economics AS 2.3.1 1e Concept of Purchasing Power Parities Ppps in Making International Comparisons of Real Questions

Practise using PPP-adjusted GDP or GNI to compare real living standards by focusing on comparable baskets of goods and services.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • identify PPP as comparing the price of a comparable goods and services basket across countries

Edexcel A-Level Economics AS 2.3.1 1e Concept of Purchasing Power Parities Ppps in Making International Comparisons of Real Questions question 1

[Maximum number: 1]

The World Bank calculates a 'Purchasing Power Parity (PPP)-adjusted level of GDP' for different countries.

Which one of the following is compared when calculating PPP?

A

The price of a basket of comparable goods and services in different countries

B

Real incomes, national happiness and wellbeing in different countries

C

The external value of one currency in terms of the US dollar

D

Inflation rates in different countries over a given time period

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