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1. Explain why purchasing power parity measures of income levels tend to show a smaller difference...

1. Explain why purchasing power parity measures of income levels tend to show a smaller difference between poor and rich countries.

2. In what way(s) do the development paths chosen by Pakistan and Bangladesh differ? What are the main factors that have contributed to these differing paths?

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Answer : Purchasing power parity measures the difference of purchasing power power of various currencies in the world. It compares the purchasing power of different world currencies with another currencies using a particular basket of goods and services. It helps to measure the amount of currency a developing nation needs in order to buy a particular basket goods and services which cost 1 dollar in U.S., from the market of developing country. In developing countries the price of goods and services are more cheaper than in U.S mostly.

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