Purchasing Power Parity Prices Are Used to Construct GDP Data

question 205

Multiple Choice

Purchasing power parity prices are used to construct GDP data that

• A) is a proper measure of economic welfare.
• B) can be used to make more valid comparisons between one country and another.
• C) do not omit the underground economy.
• D) adjust for differences in population.

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Definitions:

Standard Score

A statistical measure that expresses the distance of a score from the mean in units of standard deviation, also known as a z-score.

Raw Score

The original, unmodified score obtained in an assessment or measurement.

Z Score

A numeric indicator that represents how a specific value compares to the average of a data set, expressed in units of standard deviations away from the mean.

Statisticians

Professionals who specialize in the collection, analysis, interpretation, and presentation of quantitative data.