Question : What is the parameter for economic development?
Option 1: Per capita monetary income
Option 2: National income
Option 3: Per capita rural income
Option 4: Population
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Correct Answer: Per capita monetary income
Solution : The correct answer is Per capita monetary income .
Per capita Income is the money earned per person in a nation or geographic region. Human and social development is assessed using a range of indicators, such as population growth, equity, poverty, education, and social cohesion. The metric for measuring economic development is per-capita income. The primary engine of economic expansion has been the desire for advancement in these areas, and the general belief has been that the more growth, the better.
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