DyllionMoua DyllionMoua
  • 24-08-2020
  • Advanced Placement (AP)
contestada

3. What is the difference between economic growth and
economic development?

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flashman101g flashman101g
  • 24-08-2020
Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care. Ceteris paribus, we would expect economic growth to enable more economic development.
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