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.
vb , lugs, lugging, lugged. 1 to carry or drag (something heavy) with great effort. 2 tr to introduce (an irrelevant topic) into a conversation or discussion. 3 tr (of a sailing vessel) to carry too much (sail) for the amount of wind blowing. n. 4 the act or an instance of lugging.