The second permits finer inter-country comparisons, but first entails choosing an appropriate currency conversion series. These are the only series consistently compiled and available for a large number of countries over an extended period of time. At their best, MERs represent the relative value of currencies for goods and services that are traded across borders-that is, MERs measure a currency's relative international buying power. The PPP basket is representative of total gross domestic product across countries. D expenditures are converted to U.S. dollars with PPPs, they move in tandem with such funding denominated in the home currencies.
D expenditures converted with market exchange rates exhibit wild fluctuations.
D expenditures each increased in four individual years by 30 percent or more. D expenditures were positive in each of those years. D expenditure changes considerably closer to the countries' actual funding patterns.