Question
EconomyEconomic Concepts and National IncomeNominal, Real and Per-Capita MeasuresMedium (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Concept understanding
- Tags:
- Purchasing Power Parity · Nominal, Real and Per-Capita Measures
- Related topics:
- Exchange Rates and Currency Management
Classification and difficulty are editorial labels. Explanations are awaiting review.
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Consider the following statements: 1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries. 2. In terms of PPP dollars, India is the sixth largest economy in the world. Which of the statements given above is/are correct?
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Question 82 · Nominal, Real and Per-Capita Measures · Economy · UPSC Prelims 2019 (GS)