Pairing PPP vs GDP
Accounting GDP for PPP value.
This adjustment attempts to convert nominal GDP into a number more easily comparable between countries with different currencies.
To better understand, suppose it costs $10 to buy a shirt in the U.S., and it costs €8.00 to buy an identical shirt in Germany. To make an apples-to-apples comparison, we must first convert the €8.00 into U.S. dollars. If the exchange rate was such that the shirt in Germany costs $15.00, the PPP would therefore be 15/10, or 1.5.
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