Comparison of Living Costs by Means of Monetary Minute Currency

The contribution follows a series of evaluation studies on design of the currency called "Monetary Minute Currency" (in abbreviation MMC or MonMin Currency), and its use for determination and comparison values of several products and commodities in the U.S., and several European markets, which were presented in the HED conferences in the past five years. In the current article, the living costs in Luxemburg, U. S. A., Czech Republic, Paraguay, Nigeria, the Republic of Congo, and Tanzania in 2016 were recalculated into MM$ and renormalized by the Average Monthly Disposable Salary (Expressed in Monetary Minutes) in each of the countries, respectively. Thus, the comparison of the consumption of the human lifetime (expressed in %) on the same items of food, beverages, household things, services, entertainment, and others in the above mentioned randomly selected countries could be done and discussed.