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The economic development of Central America is the middle level, although competitiveness is remarkable: Guatemala: Is the largest economy in Central America and the tenth largest in Latin America, based on nominal GDP ($118,655 million) [3] and GDP purchasing power parity (PPP) of $81.51 billion (2013 data). [4]
Map of Latin America showing modern political divisions. Latin America as a region has multiple nation-states, with varying levels of economic complexity. The Latin American economy is an export-based economy consisting of individual countries in the geographical regions of North America, Central America, South America, and the Caribbean.
Britain, the first country to industrialize and the world power dominating the nineteenth century, chose not to assert imperial power to rule Latin America directly, but it did have an influence on Latin American economies through neo-colonialism. Private British investment in Latin America began as early as the independence era, but increased ...
The purchasing power of a unit of currency, say a dollar, in a given year, expressed in dollars of the base year, is 100/P, where P is the price index in that year. So, by definition, the purchasing power of a dollar decreases as the price level rises.
Purchasing power parity (PPP) [1] is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location.
American’s spending power dipped to a low point of 85.6% in June 2022, the survey showed, down from its high of 102.8% in November 2020. The decline represented six years of gains in purchasing ...
Economic graphs are presented only in the first quadrant of the Cartesian plane when the variables conceptually can only take on non-negative values (such as the quantity of a product that is produced). Even though the axes refer to numerical variables, specific values are often not introduced if a conceptual point is being made that would ...
The percentages of households with incomes exceeding $100,000 and $75,000 were far below the national medians for Hispanic and African American households. [84] Among Hispanic households, for example, only 9% had six figure incomes, and 17% had incomes exceeding $75,000. [85] The race gap remained when considering personal income.