Question

What is it called when national income of developing countries increase?

Answer 1

Answer:

Economic growth has been defined in two ways. In the first place, economic growth is defined as increase in an economy's real national income or gross national product (GNP,) over a period of time. Thus, economic growth means the annual increase in real per capita income of a country.

Answer 2

Answer:

Economic growth has been defined in two ways. In the first place, economic growth is defined as increase in an economy's real national income or gross national product (GNP,) over a period of time. Thus, economic growth means the annual increase in real per capita income of a country.