What is PPP (Purchasing Power Parity)?

Question: What is PPP (Purchasing Power Parity)?

(a) Method of measuring relative purchasing power of currencies of different countries

(b) Ability to purchase commodities by citizens of different states of a country

(c) A measure of socioeconomic development of a nation

(d) An index for purchasing power of citizens of neighbouring countries

Answer: (a) Method of measuring relative purchasing power of currencies of different countries

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