GDP & PPP

Рет қаралды 96,499

9 жыл бұрын

How do we compare the standard of living in two different countries or in the same country over time? Comparisons of per capita Gross Domestic Product are one possible answer but what is GDP? What is nominal GDP? What is real GDP? And how do we compare US GDP of say 14.5 trillion dollars with Thai GDP of 9.5 trillion baht? It's more complicated than it looks! Exchange rates, for example, fluctuate much more rapidly than does the standard of living. Thus, in this video we look in more detail at the GDP statistic and how we compute Purchasing Power Parity adjusted GDP.
Development Economics course: mruniversity.co...
Ask a question about the video: mruniversity.co...
Next video: mruniversity.co...

Пікірлер: 22

@albertheidecke2660 3 жыл бұрын

Great video, thanks for sharing!

@imasian9780 4 жыл бұрын

at 8:49 the big mac index...refers just to this very big mac!? so when you say someone earning 70 thai money an hr is at the same stan of living with someone making 4.45 US money...could be wrong, bcoz the baht/usd ratio should differ for Other baskets...?

@popomanesiu Ай бұрын

So countries that implement PPP projects for hydropower or solar purposely for clean energy will also qualify as electricity is non tradeable? Thanks for sharing this very informative presentation. I think developing countries should look critically about this before implementing PPP for public services that are non tradaeable

@daniel_daza4113 3 жыл бұрын

The "richer" countries include Argentina and the "poorer" countries include New Zealand

@JoseRamos-si5kq 2 жыл бұрын

The data is from 2012, is totally different nowadays.

@arthurrizzi7952 2 жыл бұрын

Brazil and Argentina used populist means to overvaluate the exchange rates, clearly unsustainable.

@19ars92 10 ай бұрын

@@JoseRamos-si5kq South Korea and New Zealand have higher standards of living than Brazil and Argentina which are considered underdeveloped countries. It has been like that since before the video. So the BigMac index isn’t totally true defining rich and poor countries.

@Arthur.Rock.Francais 2 жыл бұрын

Did you write a book about Economics?? I want to buy !!!!!! You are amazing

@Gitohandro 2 жыл бұрын

Is rent a non tradable good/service?

@drishtirastogi8535 7 ай бұрын

Yes

@LeonardoMenezes03 Жыл бұрын

1 USD = 1,71 BRL. Good times.

@WijthaGayan 3 жыл бұрын

Great video

@divyanshumishra953 3 жыл бұрын

I love intro music 🎶

@Gitohandro 2 жыл бұрын

Also ur statistics imply that india is rich

@Gitohandro 2 жыл бұрын

Why the fuck brazil so expensive tho?

@filipeareias3265 6 жыл бұрын

desde quando Hong Kong é pobre?

@lisalph8922 4 жыл бұрын

It's pronounced more like "bot" not "bat."

@neoepicurean3772 4 жыл бұрын

We say more like 'bart' in the UK...

@jjjj8691 7 жыл бұрын

Oh I didn't know that Hong Kong was a "poor" country :D Delete this crap :D

@KemetEG 6 жыл бұрын

JJ JJ and Saudi Arabia 😂😂

@wiswis 5 жыл бұрын

he said " TEND TO BE "

@imasian9780 4 жыл бұрын

hell no....that's only the price for a BIG MAC....think about the average price of a 2bhk 1000 sq ft apartment in HK...which will be much higher than the average price of the same in the US....but this video is pretty messed up!!!