GDP & PPP

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.
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[@albertheidecke2660]

Great video, thanks for sharing!

[@daniel_daza4113]

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

[@JoseRamos-si5kq]

The data is from 2012, is totally different nowadays.

[@arthurrizzi7952]

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

[@19ars92]

@@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]

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

[@popomanesiu]

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

[@imasian9780]

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...?

[@WijthaGayan]

Great video

[@LeonardoMenezes03]

1 USD = 1,71 BRL. Good times.

[@Gitohandro]

Is rent a non tradable good/service?

[@drishtirastogi8535]

Yes

[@divyanshumishra953]

I love intro music 🎶

[@Gitohandro]

Why the fuck brazil so expensive tho?

[@lisalph8922]

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

[@neoepicurean3772]

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

[@Gitohandro]

Also ur statistics imply that india is rich

[@filipeareias3265]

desde quando Hong Kong é pobre?

[@jjjj8691]

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

[@KemetEG]

JJ JJ and Saudi Arabia 😂😂

[@wiswis]

he said " TEND TO BE "

[@imasian9780]

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!!!