Which of These Refers to the Relative Ability of Two

question 32

Multiple Choice

Which of these refers to the relative ability of two countries' currencies to buy the same basket of goods in those two countries?

• A) Comparative advantage
• B) Purchasing power parity
• C) GNP per capita
• D) Relative HDI

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Definitions:

Ownership

The legal right to possess, use, and dispose of something, such as property or intellectual property.

Fairness Doctrine

A former policy of the United States Federal Communications Commission that required the holders of broadcast licenses to present controversial issues of public importance in a manner that was, in the FCC's view, honest, equitable, and balanced.

Supreme Court

The highest federal court in the United States, consisting of nine justices and having jurisdiction over cases of constitutional and federal law.

Red Lion Broadcasting

A landmark Supreme Court case, Red Lion Broadcasting Co. v. FCC (1969), that upheld the Federal Communications Commission's authority to enforce the Fairness Doctrine in broadcasting.