Multiple Choice
Scenario: The price of a given basket of goods in Country 1 is 10 karls. The price of the same basket of goods in Country 2 is 25 ritz and is $2 in the United States. Country 1 has an income per capita of 3,200 karls, and Country 2 has an income per capita of 5,500 ritz.
-Refer to the scenario above.Which of the following is true?
A) The PPP-adjusted income per capita in Country 1 is $3,500.
B) The PPP-adjusted income per capita in Country 2 is $5,800.
C) The PPP-adjusted income per capita in Country 1 is higher than that in Country 2.
D) The PPP-adjusted income per capita in Country 1 is lower than that in Country 2.
Correct Answer:
Verified
Correct Answer:
Verified
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