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Distinguish between GDP and Gini index as instruments for measuring economic development ​

User Kuyabiye
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Step-by-step explanation: GDP is adjusted for inflation and cost of living differences between countries. GDP looks at the production level of the economy or the total annual value of the country's production; it measures the size and growth rate of an economy. The Gini coefficient measures the in-equality of the income distribution of a population. A higher Gini index indicates greater inequality, as high earners receive a much larger share of the population's total income.

User Andrew Steinmetz
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