20100116 The Big Mac Index (2)

The Big Mac Index

Though not intended as a serious economic tool, over the years the Big Mac Index has proven to be both valuable and resilient. PPP is typically calculated by tracking
the price of a "basket" of everyday goods in different countries. However, the Big Mac Index only measures the price of one product - the Big Mac. By illustrating cost differences in diffeent countries, the index can also be a handy way of comparing relative living standards around the world. More importantly, with Big Macs sold in about 120 countries, the index has a global appeal.

Though not always accurate, some research studies have found the Big Mac Index to be a surprisingly accurate predicator of currency trends. Exchange rates are not the only factor that influences the price of sandwiches. Many people, for example, don't like or cannot afford to eat Big Macs. As a result, factors like local demand and tastes also play a major role in pricing. Despite these shortcomings, the index has remained a popular and instructive measure of exchange rates for more than 20 years. It has even spawned spin-off Indexes that measure items like Ipods and Starbucks' lattes.


resilient adj. 能夠迅速恢復的/有彈力的
eg: Pamela is a resilient girl. She won't be down too long.
eg: The workers used a very resilient(有彈性的) material to protect the walls from being scratched.

predict v. 預言
predictor n. 預言者/指標/進行預測的人或儀器
eg: The rainfall in spring serves as a good predictor(指標) of how the harvest of the grapes will be during summer.

shortcoming n. 缺點/短處

spawn v. 大量出現/釀成
eg: The government's economic policies spawned(造就) many new small businesses.
eg: The director's original film spawned lots of discussion.
=> 這位導演具有原創性的影片產生了許多討論。


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handy adj. 手很巧的
=> good doing things with your hands
eg: My brother is handy with electronic devices.
=> 我的弟弟對電子器材操縱自如

handyman n. 善長於多種手藝的人
=> a person who does many different small jobs or tasks

handy adj. 手頭的/離手很近的
eg: keep a pen handy 將筆放在附近

handy adj. 容易使用的/容易操作的
eg: a handy reference book 一本很好使用的參考書

the index can also be a handy way of comparing relative living standards around the world.
=> here handy means "useful"

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How long do you have to work to pay for a McDonald's Big Mac? Well, that depends on where in the world you live. In the American city of Chicago, you"d have to work about 10-12 minutes. In other cities around the world like Jakarta and Nairobl you'd have to work over two hours to pay for your Big Mac The "Work for a Big Mac world avarage is about 37 minutes.