What is purchasing power parity in simple terms?

Related questions

1. What is the purpose of purchasing power parity?
2. What is PPP example?
3. What is GDP PPP and nominal?
4. Why does PPP not hold in the short run?
5. What is GDP based on PPP?
6. What is PPP formula?
7. What is the meaning of PPP?
8. How do you calculate GDP at PPP?
9. Why do we use PPP?
10. How is purchasing power parity used?

Tags

1. #goods
2. #power
3. #parity
4. #measured
5. #pencils
6. #juice
7. #country
8. #present
9. #values
10. #basket
11. #kingdom
12. #finding
13. #consumer
14. #costs
15. #purchasing
16. #pineapple
17. #united
18. #exchange