Small differences in economic growth rates translate into significant differences in living standards.

Question

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Small differences in economic growth rates can compound over time and lead to significant differences in the level of economic development and living standards between countries or regions. Even a difference of just 1% in annual growth rate can result in a doubling of GDP per capita over the course of 70 years. This means that countries with higher growth rates can experience faster increases in income, better standards of living, and greater opportunities for their citizens.

Small Differences in Economic Growth Rates Translate into Significant Differences