A good indicator of economic development is an increase in

A good indicator of economic development is an increase in real per capita income. Real per capita income is the average income earned by individuals in a country after accounting for inflation and is calculated by dividing real national income by the country's population. When real per capita income increases, it indicates that the economic development of a country is improving because the country's population is able to consume more goods and services than before. This implies that there has been an increase in the country's production, employment, and income level, which ultimately contributes to the overall growth and development of the economy. Therefore, an increase in real per capita income is a good indicator of economic development because it reflects an improvement in the standard of living of the people in the country, which is one of the primary objectives of economic development.