Mr Perraton said the index had other uses. It provides an easy to estimate, rough and ready comparison of prices.
If you want a back of the envelope, ball park figure, it does the job pretty well. Mr Perraton said the index cannot be totally accurate, however. He said the index worked on the theory that in a global marketplace things ought to cost roughly the same across the world.
He added that the burger it is named after was chosen for its ubiquity. Follow Metro.
Why are Implied PPP of the Dollar and Actual Dollar Exchange Rate not the same?
Share this article via facebook Share this article via twitter Share this article via messenger Share this with Share this article via email Share this article via flipboard Copy link. Princeton: Princeton University Press. Clements, K. Daley, J. Burgernomics: Why the price of a Big Mac may hold the key to better investment returns, The Independent. Levanoni, D.
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