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Why is the growth rate and significant for development?

The rate of economic development is the percentage increase within real GDP over twelve months.

• The higher rate of growth the faster poverty can be decreased and human economic well-being enhanced.

• A one percent growth rate implies standards of living doubles every 72 years; 2% as 72/2 = 38, etc

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9579691

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