The YTL currency value is very close to the US Dollar, and seems to make for its distance from the Euro ?

Question

Does that mean that now the income and buying power are quite the same in the US and Turkey?

And very close to EU?

In terms of economics, what does it mean?

Answer 1

The wealth of a nation is measured by the national income per person. So, we are not very close to US or wealthier EU nations.

On the other hand, I also believe that national income per person doesnot really measure national wealth, because especially in US, the standard deviation of this statistic is insufficient. In other words, said wealth is accumulated in certain segments of the society and isnot shared by the public in general.

We all need more socialist administrations.

Answer 2

To answer your 4 questions:

Not a question

No

Not a question

Nothing.

Hope this helps!!

Answer 3

Yep buying power are quite the same US. Turkey has been developing in every way recently, and soon we are gonna be the biggest power on the world.