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Are poorer countries catching up with richer countries?
Annual gross domestic product (GDP) is a common way to compare economic standards of living between countries. A more specific measure is the inflation-adjusted value of aggregate economic activity divided by the number of persons in the population. Or real GDP per capita.
Real GDP per capita allows us to compare, for example, rich countries with very large populations with poorer countries with smaller populations.
Real GDP per capita allows us to compare, for example, rich countries with very large populations with poorer countries with smaller populations.
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