McqMate
Q. |
The best measure to assess a country's economic growth is - |
A. | per capita income at constant prices |
B. | per capita income at current prices , |
C. | gross domestic product at current prices |
D. | gross national product at current prices |
Answer» A. per capita income at constant prices | |
Explanation: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time. Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population. |
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