Since the definition of economic growth does not take into account the growth of the country's population, the income of the average person in a country with high real GDP growth could be declining through time.

Question

Quizplus · Accepted Answer

Economic growth only measures the total value of goods and services produced by a country, it does not reflect how that wealth is distributed among the population. Therefore, it is possible for the average person's income to decline even if the country's economy is growing at a high rate, especially if population growth outpaces economic growth.

Since the Definition of Economic Growth Does Not Take into Account