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I've always remembered the UK as being 7th, ahead of Italy. No change there.
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No suprise that China and India are so far up, it's absolute GDP. Now GDP per capita, that's a stat (go Luxembourg!).Comment
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The reason why y'all are surprised at the numbers is because they are probably PPP (purchase power parity)--i.e., it takes into account how much it costs to buy something in the country.
China jumps from $1.1 trillion on an exchange rate basis to $5.9 trillion on a PPP basis. So you can see that it has quite an effect. On an exchange rate basis, Germany's economy is still about twice China's.Last edited by DanS; December 12, 2001, 20:20.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I think PPP makes more sense than pure exchange rate, theoretically. The problem is to get the correct PPP. I'm a little suspicious about China and India moving ahead of Japan and Germany.Comment
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Does anybody know what the PPP used to relate between $CAN and $US is/was?12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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O well, as long as we stay above BelgiumOriginally posted by Mark L
We're 21st!
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For 2000, The Economist has the market exchange rate at $23.1k/pp and the PPP rate at $29k, so the factor would be 1.25.Originally posted by KrazyHorse
Does anybody know what the PPP used to relate between $CAN and $US is/was?
The CIA has the PPP rate at $24.8k/pp, so I guess the factor would be 1.07.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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From my personal experience (hardly sufficient, I know) 1.25 is too high but 1.07 is too low.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Hmmm... The CIA and The Economist don't agree on the 2000 US GDP figures, so the 1.07 is probably not the correct calculation on my part. But it would be lower than the 1.25. In any event, I don't know how you could tell the difference on a personal level, considering that they are so close together.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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By doing a vaguely scientific price-check when I visited a Wal-Mart in the States I ended up witha "proper" exchange rate of ~15%.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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The Big Mac Index has you at 1.3.
On 1.25, I guess that would mean every Canadian dollar is worth in buying power:
1 USD / 1.567 CND * 1.25 PPP = USD $0.80.
Of course, there's no way you could buy a whole economy-wide basket of goods yourself.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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In terms of cards I used to collect (Hockey, and collectible card games) the rate is more like: $1 CAN buys $1.0725 US, but that's a very limited set of goods
"The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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Pop Quiz
1. Which country has the most people living in households with household income of $100K or more?
2. How many such people are there in this country?Old posters never die.
They j.u.s.t..f..a..d..e...a...w...a...y....Comment
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Re: Pop Quiz
Umm, is it the Vatican, with 1000 people?Originally posted by Adam Smith
1. Which country has the most people living in households with household income of $100K or more?
2. How many such people are there in this country?Comment
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Pity the fool who takes statistics at face value.
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