Suppose that when converting to the same currency values, the nominal gdp per capita in the fictional country of islandia is 25 percent higher than the nominal gdp per capita in the fictional country of mountainia. however, the purchasing power for the same amount of islandia currency is about 40 percent lower in islandia than in mountainia. if we use islandia as the base country for comparison, the ppp-adjusted gdp per capita in mountainia i(click to select) ts nominal gdp. less than which country has the higher average standard-of-living? greater thar equal to mountainia both are equal oit is not possible to determine which is higher o islandia purchasing power parity (ppp): is a reason why all economies have left the gold standard. is as commonly accepted as the law of demand. o almost never holds completely. represents the universality of exchange rate systems.