Big Mac Index
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The “Big Mac” Index has been published annually by The Economist magazine since 1986 as an informal way to measure the values of currencies around the world against the U.S. dollar.
Perfect competition is an economic idea that does not exist in the real world but can be used as a standard to measure the efficiency and effectiveness of real world markets.
Many of today's democracies operate under what is known as a mixed economic system, which combines aspects of capitalism and socialism.
GDP stands for gross domestic product and is the measure of the total economic output of the goods and services of a country.
A current account deficit occurs when a country spends more money on the goods and services it imports than it receives for the goods and services it exports.
Purchasing Power Parity (PPP) compares different countries' currencies through a market "basket of goods" approach. Two currencies are in PPP when a market basket of goods (taking into account the exchange rate) is priced the same in both countries.
Financialization is an increase in the size and importance of a country's financial sector relative to its overall economy.
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