Suppose two countries, Country A and Country B, have a similar real GDP per capita. Country A has an average economic growth rate of 2% and Country B has an average economic growth rate of 3.3%. In the long run, what can we predict about living standards in the two countries?

An "economic growth rate" is the rate change in the estimation of the various services and the goods produced at a given time in a country during a particular timeframe when contrasted with a previous period. The monetary development rate is used to gauge the near wellbeing of an economy after some time. The numbers are typically gathered and announced quarterly and annually. The financial development rate is followed after some time as a marker of the general heading of a country's economy.

Suppose two​ countries, Country A and Country​ B, have a similar real GDP per capita. Country A has an average economic growth rate of​ 2% and Country B has an average economic growth rate of​ 3.3%. In the long​ run, what can we predict about living standards in the two​ countries?

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Suppose two countries, Country A and Country B, have a similar real GDP per capita. Country A has an average economic growth rate of 2% and Country B has an average economic growth rate of 3.3%. In the long run, what can we predict about living standards in the two countries?