purchasing power parity
noun
: the ratio between the currencies of two countries at which each currency when exchanged for the other will purchase the same quantity of goods as it purchases at home excluding customs duties and costs of transport compare par
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“Purchasing power parity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/purchasing%20power%20parity. Accessed 23 Nov. 2024.
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