Burgernomics

DEFINITION of 'Burgernomics'

An economics term made popular by the Big Mac Index published by The Economist. Burgernomics makes reference to the idea of the Big Mac PPP, which examines the purchasing power parity between nations, using the cost of a Big Mac as the benchmark.

BREAKING DOWN 'Burgernomics'

The Big Mac index was first published in 1986 as a tongue-in-cheek example of PPP across nations. Today the term burgernomics is commonly used by economists when referring to the Big Mac PPP.

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RELATED FAQS
  1. What is the Big Mac index?

    The Big Mac index, also known as Big Mac PPP, is a survey done by The Economist magazine that is used to measure the purchasing ... Read Answer >>
  2. What are the nations with the lowest PPP (purchasing power parity) with respect to ...

    Learn how purchasing power parity (PPP) is used to compare the price of goods between countries, and which countries have ... Read Answer >>
  3. What are the nations with the highest PPP (purchasing power parity) with respect ...

    Learn which nations have the highest PPP with respect to the U.S. while reviewing the differences of calculating GDP in market ... Read Answer >>
  4. How important a metric is PPP (purchasing power parity?)

    Find out why calculations and comparisons of the purchasing power parity (PPP) in different countries can have a real impact ... Read Answer >>
  5. Why is PPP (purchasing power parity) controversial?

    Find out why economists disagree about the conceptual validity of the theory of purchasing power parity (PPP) to describe ... Read Answer >>
  6. What is the relationship between nominal GDP and PPP (purchasing power parity)?

    Examine the relationship between final goods production, income, gross domestic product, purchasing power parity and the ... Read Answer >>
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