parity

Feb 13, 2014 • • 47 Views    Comments Off

« Back to the Economics Glossary

Purchasing power for farmers that is equal to a level achieved during a prior time period. Historically, parity was achieved when a bushel of farm commodities purchased the same quantity of goods that it could buy during the period 1910-1914. More recently, the parity level has been defined through a formula that relates to the average of the prices received during the preceding 10 years.

« Back to the Economics Glossary

Related Posts

Comments are closed.

« »