3 The following data is from world bank statistics relating

The following data is from world bank statistics relating the Gross national income Capita (GNI/Cap) to purchasing Power Parity (PPP) for a few developed countries. (The exchange rate adjust so that an identical product in two different countries has the same price when expressed in the same currency) For example, a chocolate bar that sells for C$1.50 in a Canadian city should cost U$$ 1.00 in a U.S city, when the exchange rate between Canada and the U.S is 1.50 USD/CDN. (Both chocolate bars cost U$$1.00)

Solution