Relationship With Purchasing Power
Since real GDP is adjusted for inflation throughout the year, it can be thought of in terms of purchasing power. As a result, individual purchasing power can be measured by real GDP per capita, i.e., real GDP divided by the size of the population..
Read more about this topic: Real Gross Domestic Product
Famous quotes containing the words purchasing power, relationship, purchasing and/or power:
“Purchasing power is a license to purchase power.”
—Raoul Vaneigem (b. 1934)
“It was a real treat when he’d read me Daisy Miller out loud. But we’d reached the point in our relationship when, in a straight choice between him and Henry James, I’d have taken Henry James any day even if Henry James were dead and not much of a one for the girls when living, either.”
—Angela Carter (1940–1992)
“Fashion is the most intense expression of the phenomenon of neomania, which has grown ever since the birth of capitalism. Neomania assumes that purchasing the new is the same as acquiring value.... If the purchase of a new garment coincides with the wearing out of an old one, then obviously there is no fashion. If a garment is worn beyond the moment of its natural replacement, there is pauperization. Fashion flourishes on surplus, when someone buys more than he or she needs.”
—Stephen Bayley (b. 1951)
“He had come down, He said, to clean the earth
Of the dirtiness of war.
Now tell of why His power failed Him there?
His power did not fail. It was that, simply,
He found how much the people wanted war.”
—Gwendolyn Brooks (b. 1917)