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To elaborate, it would be a basket of goods comprised only of Coke, measured using the Coka currency. It's something like ∂Coke/∂Coka, and historically when go
by rz2k 14y ago
To elaborate, it would be a basket of goods comprised only of Coke, measured using the Coka currency.
It's something like ∂Coke/∂Coka, and historically when gold presumed to be a neutral measurement of value, the price of labor and the price of land still varied with respect to each other.
- cpeterso 14y agoI am reminded of The Economist's "Big Mac Index", comparing currencies' purchasing power to buy a Big Mac in different countries. The index "seeks to make exchange-rate theory a bit more digestible". ;) http://www.economist.com/blogs/graphicdetail/2012/07/daily-chart-17 http://www.economist.com/blogs/graphicdetail/2012/07/daily-c... https://en.wikipedia.org/wiki/Big_Mac_Index https://en.wikipedia.org/wiki/Big_Mac_Index