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Does GDP Determine The Wealth Of A Country? - Politics - Nairaland

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Does GDP Determine The Wealth Of A Country? by Cletus77(m): 5:35pm On Apr 28, 2019
Have been hearing about this GDP stuff alot. I even took time to read an online article so I could know everything about GDP and PPP. So from my understanding, I discovered that GDP is the summary of economic activities in a country while PPP is the purchasing power of the country's currency.

Then I saw the graph of Nigeria's GDP and there was a sharp increase from 2000 till 2016 when it started to decrease. So i decided to ask, does it mean economic activities has decreased in Nigeria for the past three years, Nigeria lost more money or is there no serious African country to topple Nigeria during it's this dark period?
Since the poverty clock only signifies the number of poor people per the population

Re: Does GDP Determine The Wealth Of A Country? by Cletus77(m): 5:37pm On Apr 28, 2019
2018

Pls I only appreciate matured responses
Ipob and Afonja peeps should not derail

Re: Does GDP Determine The Wealth Of A Country? by donbachi(m): 5:50pm On Apr 28, 2019
Yes...like CGPA to a student

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Re: Does GDP Determine The Wealth Of A Country? by Xisnin(m): 6:55pm On Apr 28, 2019
Yes, GDP tell us how rich a country is.
A better estimate is GDP per capita, that is GDP divided by the population.
With GDP per capita, you can compare the level of wealth or poverty among countries.

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