Thanks for posting clarifications and disputations, seriously. I naively thought all the PPP business meant something that I’ve since learned it does not.
It's orthogonal. Nominal GDP (or income) is if you took it to the money exchange and turned it into the same global currency (say US Dollars or Euros). PPP GDP (or income) takes into account how much stuff you can buy.
Whether it's better to take the median income or the per capita GDP (which is closer to the mean income) to represent the "typical" person is a different question.
HWR_14|2 years ago
Whether it's better to take the median income or the per capita GDP (which is closer to the mean income) to represent the "typical" person is a different question.