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GDP question the market and PPP exchange rates between the Chinese renminbi and the US dollar are about 6.5 and 4.1 renminbi per US dollar,
GDP question
the market and PPP exchange rates between the Chinese renminbi and the US dollar are about 6.5 and 4.1 renminbi per US dollar, respectively. Using the charts below, show that China's real GDP is larger than the United States' real GDP if we use PPP exchange rates, but not if we use market exchange rates.
Figure 1: United States' real GDP (1960-2021). Source: Federal Reserve Economic Data
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