Purchasing power parity is an adjustment most often made to the GDP to account for differences among countries in the cost of goods,the inherent cost of corruption and the vitality of local industries.

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Purchasing power parity (PPP) is an adjustment made to GDP to account for differences in the cost of goods and services between countries, but it does not specifically account for corruption or the vitality of local industries.

Purchasing Power Parity Is an Adjustment Most Often Made to the GDP