Economics A-Level
Market exchange rates
What Market exchange rates means in Economics A-Level, as defined for AQA.
Definition of Market exchange rates
Check what you remember
Read the wording for your board, then hide it and explain Market exchange rates in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Rates that can be highly misleading for comparing living standards because the cost of living varies significantly.
Topics that use Market exchange rates
- Uses of national income data (AQA A-Level)
Related terms
- Income distribution
- International comparisons
- Living standards
- Negative externalities
- Purchasing Power Parity
- Purchasing power parity (PPP) exchange rates
- Real GDP per capita
- Informal economy
Using Market exchange rates in the exam
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