‘LOC FC | Session 19

What does "cost of living" mean?

• a) How much a video game costs

• b) The amount of money needed for basic expenses

• c) The cost of traveling to space

What is "Purchasing Power Parity" also known as?

• a) The Big Mac Index

• b) The Superhero Money Game

• c) The Space Travel Calculator

If a toy costs 5 coins in one country and 10 coins in another, which country has a higher cost of living?

• a) The first country

• b) The second country

• c) Both have the same cost of living

What do people use to compare prices in different countries with Purchasing Power Parity?a) Magic wands b) The cost of a Big Mac c) Their favorite toys

• a) Magic wands

• b) The cost of a Big Mac

• c) Their favorite toys

What does the Big Mac Index help us understand?

• a) How tall Big Macs are

• b) Which country's money is stronger

• c) How to make a Big Mac at home

Why is knowing about cost of living important?

• a) It helps us travel to space

• b) It helps us make smart money choices

• c) It tells us how tall buildings are