Q. 21

‘‘Higher Gross Do

Answer :


GDP is equal to the total monetary value of all final goods and services that have been exchanged within a specific border over a set period of time. The rate of growth of GDP affects the pace of the economy. GDP is a measure of the production and services within a country.


Therefore, it is true to say that increasing GDP also results in greater per capita availability of goods within a country. It may not result in equally higher per capita income, but it definitely leads to more production. Statistics mean nothing in absolute terms, but the correlation between the two is true.


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