Explain How the Economist's (2016)'Big Mac Index' Is Related to Purchasing

question 21

Essay

Explain how The Economist's (2016)'Big Mac Index' is related to purchasing power parity. Does the Big Mac Index suggest that purchasing power parity exists? Explain why or why not.
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Definitions:

Interference Competition

A form of competition where organisms directly interact with each other to access resources, often by physically preventing their rivals from exploiting those resources.

Coevolution

The joint evolution of two closely interacting species; macroevolutionary pattern in which each species is a selective agent for traits of the other.

Intermediate Disturbance Hypothesis

Species richness is greatest in communities in which disturbances are moderate in their magnitude and frequency.

Pioneer Species

Pioneer species are the first to colonize previously disrupted or damaged ecosystems, starting a chain of ecological succession that leads to increased biodiversity.