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In: Economics

How to measure economic development for growth and income

How to measure economic development for growth and income

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Expert Solution

Rahul Sunny answered 5 months ago
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'Development is the development of man, it is human being centered'. Economic development is economic growth plus positive changes in the factors or indicators of well being of the masses. Explain economic growth and examine or discuss some of the factors or indicators of which positive changes will bring about economic growth and lead to economic development. Hints- examples of the factors or indicators include: physical capital per worker, human capital per worker, natural resources per worker, technological knowledge, savings...
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