Growth of output per person at a constant rate is referred to as ________.

Name: Growth of output per person at a constant rate is referred to as ________.
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A balanced growth path is a state of an economy where the growth of output per person occurs at a constant rate. In other words, all the sectors of the economy grow at the same rate, and there is a balance between them. This path ensures that the economy is in a stable state of equilibrium, where all factors of production are utilized optimally.

Growth of Output Per Person at a Constant Rate Is