Comparison of Development through National Income
Comparison of Development through National Income
Comparison through National Income: National Income is the income of all the residents of the country over a period of time and is also known as total income. Countries with higher total incomes are considered to be developed. However this is not a useful measure as countries have different populations and comparing total income will not state the average amount earned by a person.
Analyze the following statements regarding the limitations of National Income as a development measure: A) National Income measures the average income earned per person accurately across different countries. B) Relying solely on National Income can overlook disparities in income distribution within a country. | |||
| Right Option : C | |||
| View Explanation | |||
Which of the following is the correct term for calculating National Income at constant prices? | |||
| Right Option : C | |||
| View Explanation | |||
Which of the following is another term for the Net National Product at factor cost? | |||
| Right Option : B | |||
| View Explanation | |||
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