Question

What is the other name for per capita income?

• A. Average income
• B. National income
• C. Personal income
• D. None of the above

Hint:

Per capita income is a commonly used metric to compare living standards between different countries or regions. It helps in understanding economic disparities and development progress.

Answer 1

The Correct Option is A

Per capita income is also known as average income, which is calculated by dividing the total national income by the total population. It serves as an indicator of the standard of living and economic well-being of a country. It provides a general sense of how much income each individual, on average, would have if the national income were distributed equally.