Quote:
Originally posted by Lukey
what is nominal
does that mean normal?
what does this mean in general? India is richer than the UK? 
|
this list isn't really as important as economists make it out to be. gdp is not a good way to measure a nation's well-being. india is a big country. in order to compete with the first world countries and attain a similar standard of living, they would need a gdp 10 times of the UK. so, no. india is still poor. UK is fine.