Question : Which of the following is another term for the average income of a country?
Option 1: Inflation rate
Option 2: Per capita expenditure
Option 3: Disposable income
Option 4: Per capita income
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Correct Answer: Per capita income
Solution : The correct answer is Per capita income.
Average income is also known as the Per Capita Income, which is calculated by dividing the total income of the country by the total population of the country. It gives the idea of the development status of a country. It is also used for measuring the Human Development Index of a country.
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