Question
The standard of living in a country is represented by its
Answer: Option A
Answer: (a)
Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a country. Per capita income is often used to measure a country’s standard of living.
Poverty Ratio: Ratio of the number of people whose income falls below poverty sine, taken as half the median household income of the total population.
National Income: Total amount of money earned within a country.
Unemployment rate: It is defined most basically as the percentage of the total labour force that is unemployed but actively seeking employment and willing to work.
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Answer: (a)
Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a country. Per capita income is often used to measure a country’s standard of living.
Poverty Ratio: Ratio of the number of people whose income falls below poverty sine, taken as half the median household income of the total population.
National Income: Total amount of money earned within a country.
Unemployment rate: It is defined most basically as the percentage of the total labour force that is unemployed but actively seeking employment and willing to work.
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