Question : The best indicator of economic development of any country is______.
Option 1: Per capita income
Option 2: Per person expense
Option 3: Calorie consumption
Option 4: Women empowerment
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Correct Answer: Per capita income
Solution : The correct option is Per capita income
The term per capita income describes the average annual income per person in a nation or area. This idea helps us understand the median income and standard of living of the people. It is computed by dividing the country's GDP by the entire population. It is unmistakable evidence of the nation's economic expansion.
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Question : Which of the following is another term for the average income of a country?
Option 1: Inflation rate
Option 2: Per capita expenditure
Option 3: Disposable income
Option 4: Per capita income
Question : The best index of economic development is provided by
Option 1: Growth in per capita real income from year to year
Option 2: Growth in national income at current prices
Option 3: Growth in savings ratio
Option 4: Improvements in the balance of payments position
Question : In India, what is the accepted average calorie requirement per person per day in urban areas?
Option 1: 2100 calories
Option 2: 2200 calories
Option 3: 2300 calories
Option 4: 2400 calories
Question : A rising per capita income will indicate better welfare if it is accompanied by:
Option 1: unchanged income distribution overall
Option 2: changed income distribution in favour of the rich
Option 3: changed income distribution in favour of the poor
Option 4: changed income distribution in favour of industrial labour
Question : Accounting of National Income at constant prices is known as____________.
Option 1: Money income
Option 2: Current income
Option 3: Domestic income
Option 4: Real income
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