Examlex
Like correlation, regression cannot prove causal direction of a relation between two variables.
Purchasing Power Parity
An economic theory that compares different countries' currencies through a "basket of goods" approach to determine their relative value.
Exchange Rate
The exchange value of one currency against another.
Identical Basket
A concept used in economics to compare the cost of a specific set of goods and services across different geographical locations or time periods.
Purchasing Power Parity
An economic theory that compares different countries' currencies through a "basket of goods" approach to assess their purchasing power.
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