[Solved] Which is the parameter for the economic development?

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Q.	Which is the parameter for the economic development?
A.	Per capita monetary income
B.	National income
C.	Per capita rural income
D.	Population
Answer» A. Per capita monetary income
Explanation: A majority of economists such as Simon Kuznets, Meter and Baldwin, Hicks D. Samuelson, Pigeon and others consider national income as the most suitable index of economic development. However, the UNO experts in their report on 'Measures of Economic Development of Under-Developed Countries' have Per Capita Real Income as the best measurement of economic development. They contend that economic growth is meaningless if it does not improve the standard of living of the common masses.

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