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.
Lag Time is the delay between the first and second activity. For example, the time duration for the first activity is 3 days, and for the second activity it is 2 days. After completing the first activity you wait for one day, and then you start second activity. In this case we say that Lag Time is one day, or Finish to Start activity with one day delay or lag.