this post was submitted on 02 Jul 2023
1 points (100.0% liked)

Today I Learned (TIL)

456 readers
6 users here now

Rules
  1. Posts must begin with "TIL".
  2. Posts must be about a specific fact. No "TIL about [ducks]."

founded 1 year ago
MODERATORS
Ullallulloo@civilloquy.com
1
TIL in 2011 the Argentine government is believed to have begun making McDonald's underprice the Big Mac specifically to cover the country's high inflation on The Economist's Big Mac index (www.economist.com)
submitted 1 year ago* (last edited 1 year ago) by Ullallulloo@civilloquy.com to c/todayilearned@civilloquy.com
0 comments fedilink hide all child comments
 

The Big Mac index started as a joke, but became a somewhat respectable—if still highly informal—way of measuring Purchasing Power Parity. Argentina took advantage of this by making it really cheap but hiding it so no one would order it, artificially improving the country's score.

no comments (yet)
sorted by: hot top controversial new old
there doesn't seem to be anything here