- Economic growth refers to the increase in the production of goods and services in an economy over a period of time. - Real income/GDP/NNP removes the effect of inflation, providing a truer picture of output changes. - Per capita measures divide the total figure by the population, showing the average availability of goods and services per person.
The most appropriate measure of a country's economic growth is
Asked in CGPSC Prelims Exam 2015 · Topic: National Income & Gross Domestic Product (Gross Domestic Product (GDP): Concepts and Measures)
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Answer: A. Per capita Real Income
More Economic Development questions
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