Which country increased its standard of living faster

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Reference no: EM131141941

In the United States, the economy grew by 2.6 percent per year (in real terms) during the 1980s. In India, the economy grew by 5.3 percent during the 1980s. However, population growth in the United States was 0.8 percent annually, while population growth in India was 2.1 percent annually. Which country increased its standard of living faster for the average citizen? By how much?

Reference no: EM131141941

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