Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
lag verb. âº [I or T] to not make as much âprogress as other âpeople or things: lag behind sb/sth Business âleaders in the UK still lag behind their âEuropean âcounterparts in âforeign âlanguage âskills.lag well/far behind As usual we lag far behind the rest of the âworld in this matter.
From Wikipedia, the free encyclopedia. The term cultural lag refers to the notion that culture takes time to catch up with technological innovations, and that social problems and conflicts are caused by this lag. Subsequently, cultural lag does not only apply to this idea only, but also relates to theory and explanation. It helps by identifying and explaining social problems me and mines to predict future problems.