Question

Latin american countries have historically experienced relatively high inflation, and their currencies have weakened. this information is somewhat consistent with the concept of

Answer 1

The concept of "purchasing power parity".

Purchasing power parity or as known for short PPP is a monetary hypothesis that looks at changed nations' monetary forms through a "basket of goods" point of view. As per this idea, two monetary forms are in harmony or at standard when a basket of products (considering the rate of exchange) is estimated the same in the two nations.