The most widely used measure of economic development of a nation is
Per capita income is a widely used income-based measure of economic development. It adjusts aggregate income for population size, whereas gross national product alone…
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The most widely used measure of economic development of a nation is
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Correct answer B
Per capita income is a widely used income-based measure of economic development. It adjusts aggregate income for population size, whereas gross national product alone measures the economy’s total size. Literacy captures one important dimension of development rather than average income.
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Gujarat SET (GSET)