大麥克漢堡裡有密碼？How much do you pay for a hamburger? by Simon Stopps.
In 1986, Pam Woodall, an editor for The Economist magazine, introduced the Big Mac Index as a fun way of demonstrating the theory of purchasing power parity (PPP). By tracking the prices of McDonald’s Big Mac sandwiches around the world, the index has become a handy and frequently cited example of how exchange rates work.
An old concept from international economics, PPP at its core is a method for calculating a “correct” exchange rate between two currencies. The idea is that goods and services should sell at the same prices no matter what country a person is in. Basically, a "correct" exchange rate would be one that makes products the same price when measured in the same currency. The US $3.54 you spend on a Big Mac in America, for example, should buy the same sandwich in Hong Kong for that same US $ 3.54 in Hong Kong currency.
In the real world, however, exchange rates frequently do not reflect the "correct" rate in terms of product price. For example, a Big Mac in Hong Kong actually costs about US$1.72 while the same sandwich in Norway will run you a whopping US$5.79.
Though not intended as a serious economic tool, over the years the Big Mac Index has proven to be both valuable and resilient. PPP is typically calculated by tracking the price of a "basket" of everyday goods in different countries. However, the Big Mac Index only measures the price of one product-the Big Mac. By illustrating cost differences in different countries, the index can also be a handy way of comparing relative living standards around the world. More importantly, with Big Macs should in about 120 countries, the index has a global appeal.
Though not always accurate, some research studies have found the Big Mac Index to be a surprisingly accurate predictor of currency trends. Exchange rates are not the only factor that influences the price of sandwiches Many people. for example don't like or cannot afford to eat Big Macs. As a result, factors like local demand and tastes also play a major role in pricing.
Despite these shortcomings, the index has remained a popular and instructive measure of exchange rates for more than 20 years. It has even spawned spin-off indexes that measure items like iPods and Starbucks' lattes.
More Information
How long do you have to work to pay for a McDonald's Big Mac? Well, that depends on where in the world you live. In the American city of Chicago, you'd have to work about 10-12 minutes. In other cities around the world, like Jakarta and Nairobi, you'd have to work over two hours to pay for your Big Mac! The "Work for a Big Mac", world average is about 37 minutes.
Grammar
.....While the same sandwich in Norway will run you a whopping $5.79 USD.
run-to move quickly on your feet from one place to another.
Please don't run in the hallway.
run-here mean " cost" , usually we use "run" in a informal conversation when we talking about the cost.
The same sandwich in Norway will cost you a whopping $5.79 USD.
Wendy wants to invite all her friends to a party on a cruise ship,but it will run her $150USD per guest.
The flowers for their wedding ran the bride and groom over $1000.
Vocabulary
Index (n)-指数
The Dow Jones Index rose 15 points today.道琼斯指数
The Nikkei Index plunged 200 points yesterday.日经指数
The Consumer Price Index is announced periodically.销费物价指数定期会公布.
What's the current exchange rate between the dollar and the euro?
As an import company, we have to keep an eye on the exchange rates.进口公司,密切注意
whopping-极大的,庞大的. (whopping + numbers表示数目惊人的)
He told a whopping lie and everyone believed it.
The unemployment rate rose by a whopping 1 percent last month.大大的提升了..
resilient-迅速恢复,有弹性的(人,物)return back to original shape through a difficult time.
Pamela is a resilient girl. She won't be down too long.
*The workers used a very resilient material to protect the walls from being scratched.
predictor-预言者,指标,或进行预测的人或仪器.predict-预测,预料
*The rainfall in spring serves as a good predictor of how the harvest of the grapes will be during summer.
spawn(v)-蔓延,延伸,造成, 酿成The director's original film spawned lots of discussion.
*The government's economic policies spawned many new small businesses.
Chat Room
core-核心,中心the central part of something, the most important part of something.
core-the center of an apple苹果核 apple core.
core subject-核心科目
to the core-道地的,道道地地的To the core, She is an American.
rotten to the core-烂透了,坏透了. This person is rotten to the core.
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handy-useful.
handy- 手头的,离手很近的.
Keep a pen handy. or I always have a pen handy(with reach around)
handy-a handy reference book. ...很容易操作的
handy (adj)-good at doing things with hands. My brother is handy with electronic devices.
handyman (n)-a person who has variety of skill on many small jobs or task.善长于多种手艺的人.很会修修补补家中的小问题.
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