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Interactive currency-comparison tool: The Big Mac index

Interactive currency-comparison tool: The Big Mac index
January 22nd 2015, by D.H. & R.L.W. THE Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services (in this case, a burger) in any two countries. For example, the average price of a Big Mac in America in January 2015 was $4.79; in China it was only $2.77 at market exchange rates. So the "raw" Big Mac index says that the yuan was undervalued by 42% at that time. Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible. User guide: The 'Select base currency' button allows you to choose from five base currencies: the yuan, the euro, the yen, sterling and the US dollar. Download the full data-set here

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In pictures: Faces from Gaza 4 August 2014Last updated at 16:57 ET Images taken by the BBC's Jon Donnison in Gaza reveal the experiences of ordinary people amid the Israeli military operation to destroy tunnels and rockets used by militants. To see more of Jon's pictures, follow him on Twitter @jondonnison. A young girl and her mother shelter in a UN school in Rafah. The girl's brother is in hospital after an Israeli bombing. How Hard Is Your Server Working To Earn Minimum Wage? Hourly wages are calculated from the most recently available average per-customer bill amount at each restaurant (2015 for Denny’s and Joe’s Crab Shack, 2016 for Olive Garden and Eddie V’s). The four chains were selected to represent different tiers of restaurant, based on price; not all chains have locations in every state. Minimum wages are for states and do not account for local variations; in states where minimum wage requirements vary by size of employer or age of worker, the highest wage is used.

Big Mac Index How many burgers do you get for $50 USD? (Jan 2012) The Big Mac Index is published by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. It "seeks to make exchange-rate theory a bit more digestible".[1] The EU in slides This page contains visual material –slide presentations - illustrating various aspects of the EU. These slides may be a useful tool for teachers, speakers on EU issues, students and anyone interested in giving a presentation about the EU. They offer clear explanations on what the European Union is, what it does and how it works. You may use the slides with no fees or copyright restrictions, and modify them at your own responsibility. The basis for a Union The European Union: 500 million people – 28 countries

A Day In The Life of my Supposedly Frugal Stomach Kicking Ass with Money is much like healthy eating and joyful living. It’s a series of daily habits that get you ahead, rather than a one-time heroic effort that fixes all your problems so you can go back to whatever you were doing before. Because of this parallel, the subject of food is one of the nicest examples of Mustachian living, and one of the most powerful and efficient things to master. Your eating choices will drastically affect your budget (especially if you are raising a family), but they also affect your health, energy levels, productivity, and happiness.

Purchasing power parity Theories that invoke purchasing power parity assume that in some circumstances (for example, as a long-run tendency) it would cost exactly the same number of, say, US dollars to buy euros and then to use the proceeds to buy a market basket of goods as it would cost to use those dollars directly in purchasing the market basket of goods. The concept of purchasing power parity allows one to estimate what the exchange rate between two currencies would have to be in order for the exchange to be at par with the purchasing power of the two countries' currencies. Using that PPP rate for hypothetical currency conversions, a given amount of one currency thus has the same purchasing power whether used directly to purchase a market basket of goods or used to convert at the PPP rate to the other currency and then purchase the market basket using that currency. PPP exchange rates help to minimize misleading international comparisons that can arise with the use of market exchange rates. Concept[edit]

ISIS make millions out of misery of migrants in Libya desperate to get to Europe - and hide their own agents amid the human tide  Terror group are taxing gangs who smuggle people out of North AfricaAlso said that would-be jihadis are joining migrants on the risky crossingsExperts fear militants could reach Europe and the UK without detection By Jennifer Newton for MailOnline Published: 14:43 GMT, 17 May 2015 | Updated: 17:30 GMT, 17 May 2015 How Time's Running Out for Swiss Watchmakers Zurich’s Bahnhofstrasse has long been one of Europe’s most prestigious luxury shopping spots. Its watch and jewelery sellers especially like to boast of their 19th-century heritage. Bucherer, for example, is undergoing modernization but the construction hoardings remind passers-by that the chain was founded in 1888. The global outlook for Swiss luxury watches is reminiscent of recent, happier times. Swiss watch exports in the first three months of this year were 10.1 percent higher than a year earlier — the fastest quarterly growth rate since 2012, according to the Swiss watch federation.

List of countries by GDP (PPP) World Share of GDP (PPP) according to data released by the IMF, October 2014 Selection of GDP PPP data (top 10 countries and blocks) in no particular order This article includes a list of countries in the world sorted by their gross domestic product (GDP), the value of all final goods and services produced within a state in a given year.