Power buyers.How much money is enough money? Economists often talk about average national income, called per-capita gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ). But if you really want to understand money in a given country, you have to consider what goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. actually cost. Calculated that way--called purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. parity--the list of "rich" countries in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. takes some surprising turns. Chaotic Argentina beats stable Chile, but tiny Caribbean nation Trinidad and Tobago Trinidad and Tobago (trĭn`ĭdăd, təbā`gō), officially Republic of Trinidad and Tobago, republic (2005 est. pop. 1,088,000), 1,980 sq mi (5,129 sq km), West Indies. The capital is Port of Spain. tops them all. The bottom of the list becomes sadly predictable: Bolivia, Honduras, then Nicaragua. GDP per capita based on purchasing power parity (PPP) Trinidad and Tobago $13,958 Argentina $13,153 Chile $11,537 Costa Rica $10,316 Mexico $10,090 Uruguay $9,619 Brazil $8,745 Panama $7,327 Colombia $7,303 Dominican Republic $7,055 Venezuela $5,801 Peru $5,594 Paraguay $4,663 El Salvador $4,525 Jamaica $4,471 Guatemala $4,136 Ecuador $4,010 Bolivia $3,049 Honduras $2,793 Nicaragua $2,779 SOURCE: IMF Note: Table made from bar graph. |
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