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________ rests on the assumption that the world is reasonably consistent and changes slowly in the short run.
Industrially Advanced Countries (IACs)
Nations with highly developed economies, significant industrial production, and advanced technological infrastructure.
Per Capita Income
Represents the average income earned per person in a given area in a specified year.
Standard Of Living
The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.
Per Capita Income
The average income earned per person in a given area in a specified year, often used to gauge the economic prosperity of a population.
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