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Definition: GDP PPP stands for Gross Domestic Product based on Purchasing Power Parity where using the PPP index, the GDP of a country is converted to dollars.
Imagine you are buying a ticket for a movie. Now you are wondering how much an American would pay for a movie. You can convert the ticket price in the US from US dollars to Indian rupees, but that would not give you the exact comparison you want. To get a proper comparison you will have to do something that is called purchasing power parity. Similarly the government also compares the GDPs of nations using a PPP system.
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