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Why is per capita income calculated in US dollars |
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Answer» 1) It can be used for comparison at international level due to large scale acceptance.2) Every dollar can be used to buy the same basket of goods and services in all countries across the world - Purchasing Power Parity (PPP). It is because, to ensure uniformity in calculation Money is accepted as a medium of exchange . It is accepted as a payment across the globe ?? * It is considered as a medium in International exchange.* It is accepted as a payment across the globe. |
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