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GDP per capita is GDP (Gross National Product) divided by population. Since GDP is measured in a country's currency, in order to compare different countries' GDPs, we need to convert them to a common currency. One way to compare different countries' GDPs is with an exchange rate, the price of one country's currency in terms of another.
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- Knovation Readability Score: 3 (1 low difficulty, 5 high difficulty)