Economics · Economic Growth and Development
Which of the following correctly differentiates between Economic Growth and Economic Development?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Economic growth measures qualitative progress; economic development measures only GDP.
- 2Economic growth focuses on output increase, while economic development includes improvement in living standards.✓
- 3Economic growth and development are identical in macroeconomics.
- 4Economic development excludes social infrastructure.
Correct answer
Economic growth focuses on output increase, while economic development includes improvement in living standards.
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