This chart compares the prices of McDonald's Big Mac burgers across countries from 2000 to 2023, using the Big Mac Index as a tool to analyze each country's cost of living. The Big Mac Index is an economic tool used by economists to evaluate purchasing power parity (PPP) across countries, simplifying the comparison of currency values and price levels. The price of a McDonald's burger in the most expensive country reflects the relative strength of its currency and the overall cost of living. A higher price indicates lower purchasing power of the currency and generally higher living expenses.
The Big Mac Index is an economic indicator that compares the price of a McDonald's Big Mac across different countries to assess the relative value of currencies. It provides a simple and effective way to compare price levels and currency purchasing power across economies.
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