Cologne, May 27 dpa - The U.S. dollar is undervalued against the Deutsch-mark based on how many "Big Mac" hamburger sandwiches the two currencies can purchase, said one of Germany's leading institutes.

The Institute of the German Economy (IW) in Cologne noted that the popular sandwich by the McDonald's restaurant chain is increasingly being used by economists around the world as a measure of currencies' relative purchasing power.

The institute said that currency exchange rates are often unreliable as an instrument to measure purchasing power. At the same time, "baskets" of products used to arrive at comparative purchasing power are complicated to compile.

A simple alternative, now that McDonald's has spread to virtually every country on earth, has become to look at what a Big Mac costs, the IW said.

"A particularly hungry American can buy five Big Macs for 11 dollars. If he exchanged the money into Deutsch-marks, his 18 marks in Germany can just barely obtain four Big Macs," the IW said.

Conclusion: based on the Big Mac index, the dollar is undervalued, the institute said.

Americans can get their best Big Mac buy these days in Moscow, where one sandwich costs only about 59 cents.

But Russians must "work nearly two days in order to afford this meaty capitalist achievement - longer than people in any other country", the IW said.

by Pak101.com (few years ago!) / 832 views

Be izati...

be-izzati
or biwi
ek jaisi hoti hein..
achi tab hi lagti hay, jb doosray ki ho. :-

by Tanveer Hussain (few years ago!)

Santa: WHat is another difference

Santa: WHat is another difference between a mosquito and a fly?

Banta: A fly can fly but a mosquito cannt mosquito.

by Pak101.com (few years ago!)

1 larki rasty se

1 larki rasty se jaaa rahi thi side se achanak bike nikli

Larki - Aby Oye maarega kya

Boy - mood to nahi hai, par degi to maar lunga.

by Mazhar Khan (few years ago!)

Tm to hr saal Pregnant hoti

'Lady Dr: Tm to hr saal Pregnant hoti thi ab 3 saal hogye koi khuskhabri nhi.
Q....'

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College Prayers

O Lord, hear my anxious plea

Calculus is killing me

I know not of 'dx' or 'dy'

And probably won't until the day I die.

Please, Lord, help me in this hour

As I take my case to the highest power.

I care not for fame or loot

Just help me find one square root.

And Lord, please let me see

One passing mark in organic chemistry.

Oh such a thing I constantly dread

I'd just as soon join the Marines instead.

Lord, please give me a sign

That you've been listening all the time.

Please lead me out of this constant coma

And give me a shot at my diploma.

by Pak101.com (few years ago!)