3 ms·
>The purchasing power is the property of the money received, it is exactly the same in all cases. That's nonsensical. You can trivially find examples of where
by NovemberWhiskey 6y ago
>The purchasing power is the property of the money received, it is exactly the same in all cases.
That's nonsensical. You can trivially find examples of where the same goods cost different prices in different locations.
Here's a really simple example. $5.79 will buy you a McDonald's Sausage Egg McMuffin meal in Montgomery AL. The same menu item is $6.71 in Los Angeles CA.
The same money has less power to buy goods and services in Los Angeles than it does in Montgomery. You know this intuitively; the same way you know that a gallon of milk is more expensive in New York City than it is in Madison.
I don't know why you're tying yourself up in knots to come to the opposite conclusion.
- a_imho 6y agoNo, that is the definition given by wikipedia right in the first sentence, it is not a function of location. You can come up with your own definition of what you consider local (neighbourhood, city, county, state, country?) or cherrypick a basket you want to use as a base (McD), but that simply reflects your biases. https://en.wikipedia.org/wiki/Purchasing_power https://en.wikipedia.org/wiki/Purchasing_power