Purchasing power parity (PPP) makes it possible to compare the purchasing power of two countries. What is a definition of PPP?
- Athe amount of the domestic currency needed to purchase a unit of foreign currency
- Bthe quantity of a currency required to purchase the same basket of goods in both countries
- Cthe quantity of goods and services that can be purchased by a person on an average income
- Dthe value of expenditure by households on goods and services in a country