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    the per capita income of different countries is counted in which currency

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    Question

    In which currency the per capita incomes of countries are calculated?

    A

    Yen

    B

    Dollar

    C

    Rupees

    D

    Pound

    Medium Open in App

    Updated on : 2022-09-05

    Solution Verified by Toppr

    Correct option is B)

    Per capita income is the main criterion used by the World Bank in classifying different countries.

    The World Bank calculates per capita incomes of different countries in US Dollars as it is the largest used currency in the world.

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    Per capita income of different countries is counted in which currency?

    Per capita income of different countries is counted in which currency?

    Per capita income of different countries is counted in which currency?

    WhatsApp Telegram Google Classroom A Rupees B Pounds C US Dollars D Canadian Dollars

    Solution:

    By Conceptual

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    Why is per capita income of different countries calculated in dollars and not in their own currencies by the World Bank?

    Answer (1 of 3): Those are calculated, too. More people use the dollar-based figures because they want to be able to compare income levels across countries. The exchange rates at PPP figures are used so people can compare purchasing power across countries. Of course, if you are not doing any int...

    Why is per capita income of different countries calculated in dollars and not in their own currencies by the World Bank?

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    Sort George Marshall

    Economist/Analyst at Government of CanadaAuthor has 412 answers and 134.5K answer views4y

    Those are calculated, too. More people use the dollar-based figures because they want to be able to compare income levels across countries. The exchange rates at PPP figures are used so people can compare purchasing power across countries.

    Of course, if you are not doing any international comparisons, using domestic currency is simplest and best.

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    Why is per capita income calculated in US dollars?

    Why is per capita income counted in the dollar rather than our rupee?

    Patrick Celaya

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    Godson Okafor

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    Soham Siddhanta

    , B.Sc Economics, Presidency University, Kolkata (2022)Author has 63 answers and 3.9M answer viewsUpdated 2y

    Related

    Why is United States currency the dominant world currency?

    This.

    The prerequisites for a reserve currency are less about economic might than it is about military might. The fact that the United States has both is why most international investors feel safe exchanging goods and services via the US Dollar.

    This wasn’t always the case. The British Pound was the reserve currency prior to the World Wars. The British Empire’s Pound was secured by an elaborate network of Imperial supply chains and backed by the might of the Royal Navy. This made the Pound an attractive currency to conduct international trade. It was almost guaranteed that if you did business th

    Patrick J. Wilkie

    Retired Associate Professor at University of VirginiaAuthor has 1.2K answers and 415.5K answer views4y

    Related

    Why is per capita income of different countries calculated in dollars and not in their own currency by the World Bank?

    It’s simply a matter of finding a common measuring stick. If every country’s currency was used to measure its citizens’ income, there would be no way to compare per capita incomes across countries.

    It should be noted that these measures of well-being are not as accurate as they might seem. There are many things that are not captured by national income accounts that are highly valued….clean air, water,….the list is long.

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    Jan Stubbs

    Former Manager of Software Engineers, Economics Wizard. at Yahoo! (company) (2000–2007)Author has 3.4K answers and 869.6K answer views4y

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    Why is per capita income of different countries calculated in dollars and not in their own currency by the World Bank?

    Showing it in their local currency would make it difficult to compare them. Like it or not, everyone knows the conversion rate of their own currency to the dollar, so this is the most useful metric.

    Priysha Sinha

    Author has 110 answers and 4.3M answer viewsUpdated 4y

    Related

    Why is the per capita income for all countries calculated in dollars?

    The per capita income of all the countries are calculated in dollars because..

    1.Dollar is an standard international currency.

    2. It is the largest used currency in the world.

    3. Dollar is the base currency for all export and import pricing.

    4.The common currency system taking dollar as the base was devised to bring an homogeneity for studying the GDP of all countries with the same base.

    5. Purchase power parity issues.

    6. In todays market the currencies have a floating rate against dollar and the exchange rate varies with time. This may arise a confusion for studying the past figures whose ex

    Sam Share

    VHS, RPI Troy, Albany Med, KMC ManipalAuthor has 1.7K answers and 4M answer views10mo

    Related

    Why doesn't the per capita income increase in the US?

    Per capital income has been increasing in the US.

    The per capita went down last year in 2020 due to COVID.

    Prior to that, the last time it went down was in 2009 right after the economic/stock/housing crash.

    Under Trump, prior to COVID, per capital income in the US went up $7k from $58k to $65k. That is an increase of 12% over 3 years or an average of 3.7% per year. This is not surprising that during this time, the unemployment rate of blacks/minorities was the lowest EVER recorded.

    In fact, since 2009, when under Obama, per capita income in US went up $9k from $49k to $58k. That is an increase of

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