Answer to Question #160936 in Accounting for Carine Dorlus

Question #160936

What is the relationship between economic growth and economic development


1
Expert's answer
2021-02-04T09:32:28-0500

Economic growth means an increase in real 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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