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Home > Jokes > Food Jokes > Purchasing power of burgers

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Rated: 0.00/10 | Votes: 1 | Views: 200 |Submitted: 09/25/2003


Cologne, May 27 dpa - The U.S. dollar is undervalued against the

Deutsch-mark based on how many "Big Mac" hamburger sandwiches the two

currencies can purchase, said one of Germany's leading institutes.

The Institute of the German Economy (IW) in Cologne noted that the

popular sandwich by the McDonald's restaurant chain is increasingly

being used by economists around the world as a measure of currencies'

relative purchasing power.

The institute said that currency exchange rates are often unreliable as

an instrument to measure purchasing power. At the same time, "baskets"

of products used to arrive at comparative purchasing power are

complicated to compile.

A simple alternative, now that McDonald's has spread to virtually every

country on earth, has become to look at what a Big Mac costs, the IW

said.

"A particularly hungry American can buy five Big Macs for 11 dollars. If

he exchanged the money into Deutsch-marks, his 18 marks in Germany can

just barely obtain four Big Macs," the IW said.

Conclusion: based on the Big Mac index, the dollar is undervalued, the

institute said.

Americans can get their best Big Mac buy these days in Moscow, where one

sandwich costs only about 59 cents.

But Russians must "work nearly two days in order to afford this meaty

capitalist achievement - longer than people in any other country", the

IW said.



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