A sustained increase in the per capita income of a country over a period of time is called?
Answer Details
A sustained increase in the per capita income of a country over a period of time is called economic growth.
Economic growth refers to the increase in the production of goods and services in an economy over a period of time. When this increase in production leads to an increase in the income of the people living in the country, it is referred to as an increase in per capita income.
Economic growth is typically measured by changes in Gross Domestic Product (GDP), which is the total value of all goods and services produced in a country over a period of time. A sustained increase in GDP over several years indicates economic growth, and if this growth is higher than the population growth rate, then per capita income will also increase.
Economic growth is often considered a key indicator of the economic health of a country, as it generally leads to an improvement in the standard of living, increased employment opportunities, and higher levels of consumption.