emg home
Dacic: Boycott reflects attitude to Serbia, not Nikolic Dinar up by another 0.5 %, rate at RSD 114.64 Serbian President's inauguration wil be held today Strategic alliance between EU in Turkey is necessary! Bulgaria, Romania "most vulnerable to Grexit" Romania’s local elections exit polls: Incumbent Sorin Oprescu gets majority in capital, higher attendance than four years ago No fiscal consolidation-greater pressure on dinar Patriarch consecrates Orthodox church in Zagreb Kosmet patients in danger due to license plates ban Kosovo Serbs without details of Brussels agreement Faculty of Security Studies marks 37 years of work EU answers Nikolic: Membership conditions known Serbian President to hold reception after stepping into office Delevic: EU has not given up on enlargement Nikolic, socialists to confer on government Monday Govt extends deadline for Smederevo steel mill Nikolic: I will demand clear answers from Brussels Bulgarian PM makes Skopje cry and ponder Macedonia's President Ivanov will not attend Nikolic's inauguration President Türk gives reason for not attending Nikolić's inauguration Slovenia closing embassies in Sweden, Finland, Portugal and Ireland Turkey: tender for Istanbul mega-airport by end of the year EBRD helps improve public transport system in Arad, Romania Tadic:Jeremic's election is Serbia's great victory Meglena Kuneva officially founds own party Josipovic uses Facebook to invite IT investor group Slovenian, Bosnian presidents also not attending Nikolic's inauguration Mesic: Nikolic should be given time Konjanovski visits first green field investment in Sveti Nikole Zeljko Bogetic: fiscal policy management in Macedonia so far at solid level Redzepi: Serbian plates to be banned as of June 15

Hour of work buys less than a Big Mac in Croatia

08. May 2012. | 05:37

Source: Croatian Times

Croatians pay 3.15 US dollars for a Big Mac sandwich but a McDonald’s worker in Croatia can afford only a piece of the burger.

Croatians pay 3.15 US dollars for a Big Mac sandwich but a McDonald’s worker in Croatia can afford only a piece of the burger.

The Economist’s Big Mac index is based on the theory that, in the long run, exchange rates should adjust to equal the price of a basket of goods and services in different countries. But Swiss pay 6.81 dollars for a burger, Indians 1.62 dollars, while Croatians some 3.15 dollars.

The idea of the burgernomics is to show whether some nation’s currency is overvalued or undervalued compared to the dollar.

The January report shows that the Swiss franc is worth 62 per cent more than the dollar, while almost all currencies of eastern Europe - including Croatia's – are undervalued.

Economist Orley C. Ashenfelter published the research that, by looking at the Big Mac, tries to answer the question how poor nations could become rich, daily Jutarnji List writes. He measured the increase in salaries and prices of Big Macs and calculated how many sandwiches one can buy for one hour of work.

McDonald’s workers in the USA and western Europe can buy two to three sandwiches, in Latin America only a third of a Big Mac, in eastern Europe a 0.80 per cent of the burger.

Croatia's salaries are slightly higher than in the rest of the region, which means that a McDonald's worker can most probably buy a slightly bigger part of the bun but not a whole burger, the daily writes.


My Web

Enter text:

11. May 2012. 08:52:09

| Ime


How many McDonalds are in Croatia?


11. June - 17. June 2012.