How does PCI and GDP of a country gets affected by development of transportation
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The GDP is the total output of goods and services produced in a year by everyone within the country's borders. Real GDP per capita removes the effects of inflation or price increases. Real GDP is a better measure of the standard of living than nominal GDP. A country that produces a lot will be able to pay higher wages....
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Explanation:
The GDP is the total output of goods and services produced in a year by everyone within the country's borders. Real GDP per capitaremoves the effects of inflation or price increases. Real GDP is a better measure of the standard of living than nominal GDP. A country that produces a lot will be able to pay higher wages.
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