Explain one reason why comparing the Gross National Income (GNI) per capita of an emerging economy, such as India, with a developed economy using market exchange rates rather than Purchasing Power Parity (PPP) exchange rates is likely to underestimate the living standards in the emerging economy.
13 exam-style questions on Edexcel A A Level Economics 4.3.1 Measures of development. Each one has a worked solution and a mark scheme showing where the marks go.