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Old 4th Nov 2020, 22:19
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Economics101
 
Join Date: Aug 2007
Location: Ireland
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The Economist's Defence expenditure are in purchasing-power terms, so that items such as the $532 per month tank commander would be revalued upwards by 5 to 10 times to get their Western equivalent. The GDP numbers are calculated using market prices and thus comparing military expenditures to GDP is like comparing apples and oranges.
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