the process whereby the real per capita income of an economy increases over a long period of time
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Consequently in the words of Meier (1964), “economic development is a process whereby an economy's real national income increases over a long period of time”. ... Thus, some economists define economic development in terms of an increase in per capita income.
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Consequently in the words of Meier (1964), “economic development is a process whereby an economy's real national income increases over a long period of time”. ... Thus, some economists define economic development in terms of an increase in per capita income.
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