Calculate the PPP-adjusted GDP for each of the four countries using the informat

Question

Calculate the PPP-adjusted GDP for each of the four countries using the information found in the table below. Instructions: Round your answers to the nearest dollar. Country GDP Ona Rye Zolfo Avon Price level PPp-adjusted GDP 10,000 12,700 14,100 3,400 27 -10 References eBook & Resources Section: Accounting for Price Differences Across Places Numeric Response Learning Objective: 08-06 Use a price index to calculate PPP- adjusted variables and compare the cost of living across different places. Section: PPP-Adjustment

Explanation / Answer

We use price level of one so it's ppp gdp is same as it's gdp

Rye=12700

12700+12700(27%+6%)=16891

Zolfo 14100+14100(10%+6%)=16356

Avon 23400-23400(20%-6%)=20124

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