Question

If you are a policy maker for a developing economy, which dimension should interest you more: growth or development

Answer 1

Answer:

It's a necessary condition. very important: economic growth, when a country needs development. Besides, its important the rate. Mexican Economy in the last 30 years has been growing slowly (Gross Domestic product 2 or 3 percent in a year) that´s why It doesn´t have development.

Explanation:

Answer 2

If I were a policymaker for a developing country, then I would have been more interested in the development of the economy rather than the growth of the economy.

• In economics, the Development of an economy means increasing the overall standard of living, life expectancy, etc.
• While the Growth of an economy refers to the increase in the real national income with respect to the total output.
• The development of an economy includes the growth of the economy together with a high standard of living, universal health care, high life expectancy etc.
• Economic Development considers the well being of the people which economic growth doesn't consider.