Understanding Purchasing Power Parity With Big Mac Prices

Factors Affecting Purchasing Power ParityQuestion:Discuss about the Global Poverty Goals and Prices Rates.The report is aimed to look into the concept of Purchasing Power Parity, by taking the Big Mac product of McDonald’s and comparing the prices in US Dollars with the currencies of other countries [1].
This concept in Economics says that the rate of exchange between two countries is equal when the purchasing power in both the countries …