2 ms·
The 10x there compares local currency to USD. Given the NOK to USD exchange rate, a 10x PPP difference between NOK and USD means Norway and the US are near pari
by vidarh 3y ago
The 10x there compares local currency to USD. Given the NOK to USD exchange rate, a 10x PPP difference between NOK and USD means Norway and the US are near parity in terms of purchasing power in USD.
Actually, the salaries are now much closer than I thought, so depending on exactly which measures you use I might well have been wrong that US salaries are (still) much higher than Norwegian ones. The gap used to be fairly huge.