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Purchasing power parity (PPP) [1] is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies.
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation.
At that rate, you could make $20 for about 1,000 cans (or 84 12-packs of 12-ounce cans). ... That could be significantly reduced if you live in an area that pays higher prices. At $2 per pound ...
Established in 1974, the Allama Iqbal Open University has 44 regional campuses and centers across Pakistan. AIOU is one of the world's largest institutes for distance learning, and the largest distance learning institute in Pakistan. It offers SSC (secondary schooling) to PhD level education to students in Pakistan.
In the fiscal year 1949–50, Pakistan recorded a national savings rate of 2%, a foreign savings rate of 2%, and an investment rate of 4%. Manufacturing contributed 7.8% to the GDP, while services, trade, and other sectors accounted for a significant 39%, reflecting a policy centered around import-substituting industrialization .
[269] [270] [271] Based on market exchange rates, the UK is the sixth-largest economy in the world and the second-largest in Europe by nominal GDP. Its currency, the pound sterling, is the fourth most-traded currency in the foreign exchange market and the world's fourth-largest reserve currency (after the United States dollar, euro, and yen). [272]
The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. [9] As prices faced by households do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose.
But for a small open economy with perfect capital mobility and a flexible exchange rate, the domestic interest rate is predetermined by the horizontal BoP curve, and so by the LM equation given previously there is exactly one level of output that can make the money market be in equilibrium at that interest rate.