) Increase in real per capita income.

Another traditional measure of economic d

evelopment was an increase in real per capita income of a country. It was consid
ered at time that if the rate of growth of income per capita increases over a lo
ng period of time, it would indicate that the country was moving towards higher
standard of living and achieving economic goals. The increase in real per capita
income can be achieved if the nation has the ability to expand its output at a
rate faster than the