state gov TSPSC Group 3 (తెలంగాణ గ్రూప్ 3) 2023 Mock Test Series General Knowledge Economy External Sector and Currency Exchange rate
With reference to the Purchasing Power Parity (PPP), consider the following statements:
1. It is the rate at which the currency of one country would have to be converted into that of another country to buy the same amount of goods and services in each country.
2. The calculation of purchasing power parity is done on the basis of the shared prices for listed products in the economies of all the member nations.
3. It neglects the impact of the unavailability of products in the regional market that leads to the importation of the products.
Which of the statements given above are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
1, 2 and 3