Question

Difference between growth and development macro economics

Answer 1

Answer:

The fundamental differences between economic growth and development are explained in the points given below: ... Economic growth can be measured when there is a positive change in the national income, whereas economic development can be seen when there is an increase in real national income.

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Answer 2

Economic development is a bordered concept then the economic growth. Economic development referred to the increase of the real national income of the economic and socio-economic structure of time.....Economic Groth can be measured through an increase in the GDP , per capita income, etc.