McqMate
Q. |
Which of the following best indicates economic growth of a Nation? |
A. | Agriculture income |
B. | Per capita income |
C. | Gross industrial production |
D. | Inflation |
Answer» B. Per capita income | |
Explanation: Some economists believe that economic growth is meaningless if it is not distributed across different segments of population. So per capita income is considered by some as a better indicator of economic growth since it measures the average income earned per person in country in a specified year. It serves as an indicator of a country's living standards and how wealth or income isdistributed across the population. However, to a vast majority Gross Domestic Product (GDP) is the most comprehensive measure of over-all economic performance. |
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