Written by the Fiveable Content Team • Last updated August 2025
Verified for the 2027 exam
Verified for the 2027 exam•Written by the Fiveable Content Team • Last updated August 2025
Definition
An economic measure that adjusts GDP to account for differences in price levels and cost of living across countries, allowing for more accurate comparisons of economic development.
AP course connection
Topic 5.7: 5.7 Impact of Industrialization and Economic Development