Suppose you are comparing the income per capita in the United States and Ghana. You try two approaches. In the first approach,

Question

4 years ago

8

Suppose you are comparing the income per capita in the United States and Ghana. You try two approaches. In the first approach,

you convert the Ghana values into U.S. dollars using the current exchange rate between the U.S. dollar and the Ghanaian cedi. In the second approach, you also convert both values to U.S. dollars using the purchasing power parity-adjusted exchange rate. Which approach is likely to give you a more accurate picture of the living standards in both countries?

Social Studies

1 answer:

d1i1m1o1n [39] · Answer 1 · 2021-12-21T10:08:02+03:00

d1i1m1o1n [39]4 years ago

6 0

Answer:The second approach, because it takes into account the relative costs for each country.

Explanation:

Suppose you are comparing the income per capita in the United States and Ghana. You try two approaches. In the first​ approach,

Suppose you are comparing the income per capita in the United States and Ghana. You try two approaches. In the first approach,