Question

Continuous increase in national income of an economy over a period of years is known as:

• A. Economic Growth
• B. Economic Development
• C. Structural Transformation
• D. Structural Changes

Answer 1

Answer:

A. Economic Growth

The continuous increase in the national income of an economy over a period of years is known as economic growth. Economic growth refers to the rise in the production of goods and services within an economy over time, usually measured by the increase in a country's Gross Domestic Product (GDP). It is an important indicator of an economy's overall health and prosperity, reflecting improvements in living standards, employment opportunities, and productivity.