MIT vs GPL license

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The MIT license is GPL-compatible. Is the GPL license MIT-compatible? i.e. I can include MIT-licensed code in a GPL-licensed product, but can I include GPL-licensed code in a MIT-licensed product?

It seems to me that the chief difference between the MIT license and GPL is that the MIT doesn’t require modifications be open sourced whereas the GPL does. Is that correct? Is the GPL is more restrictive than the MIT license?

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