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.
time lag - time during which some action is awaited; instant replay caused too long a delay; he ordered a hold in the action. delay, postponement, wait, hold. pause, suspension, intermission, interruption, break - a time interval during which there is a temporary cessation of something.