1] It increases the standard of living of the people. 2] Redistribution of income and wealth becomes easy. Through government intervention the benefits of economic growth may be more equally distributed (because if existing national income is not equally distributed…
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ECONOMIC GROWTH – DESIRABLE OR NOT
A rapid growth rate is preferred to a slow growth rate. This however may be achieved at a high cost by way of current cost. 1] If economic growth ie an increase in GNP and PCI is achieved without any…