GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The most appropriate measure of a country’s economic growth is its:
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Gross Domestic Product
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Net Domestic Product
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Net National Product
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Per Capita Real Income
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Explanation:
Detailed explanation-1: -The correct answer is Per Capita Product (PCP). The gross domestic product per capita, or GDP per capita, is a measure of a country’s economic output that accounts for its number of people.
Detailed explanation-2: -GDP per capita provides a basic measure of the value of output per person, which is an indirect indicator of per capita income. Growth in GDP and GDP per capita are considered broad measures of economic growth.
Detailed explanation-3: -Answer and Explanation: Per capita income is the most appropriate base to measure the development of a country.
There is 1 question to complete.