The best way to understand the level of development in a given country is to look at its raw Gross Domestic Product rather than GDP Purchasing Power Parity.

Question

Quizplus · Accepted Answer

GDP Purchasing Power Parity (PPP) provides a more accurate measure of the level of development and standard of living in a country by accounting for the cost of living and inflation rates, unlike raw GDP which only measures the total economic output without considering these factors.

The Best Way to Understand the Level of Development in a Given