Question
Which of the following best indicates economic growth of a Nation?
Answer: Option B
Answer: (b)
Some economists believe that economic growth is meaningless if it is not distributed across different segments of the 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 a country in a specified year.
It serves as an indicator of a country's living standards and how wealth or income is distributed across the population.
However, to a vast majority, Gross Domestic Product (GDP) is the most comprehensive measure of overall economic performance.
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Answer: (b)
Some economists believe that economic growth is meaningless if it is not distributed across different segments of the 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 a country in a specified year.
It serves as an indicator of a country's living standards and how wealth or income is distributed across the population.
However, to a vast majority, Gross Domestic Product (GDP) is the most comprehensive measure of overall economic performance.
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