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Questions and Answers
Which of the following is the correct definition of per capita income?
Which of the following is the correct definition of per capita income?
- The average income of an individual in a country in a specified year (correct)
- The income of the bottom 10% of a country's population
- The income of the top 1% of a country's population
- The total income of a country divided by its total population
Which of the following countries would be classified as a low-income country according to the World Bank Report?
Which of the following countries would be classified as a low-income country according to the World Bank Report?
- India with a per capita income of US$ 1820 per annum in 2017
- Switzerland with a per capita income of US$ 80,675 per annum in 2017
- Japan with a per capita income of US$ 38,894 per annum in 2017
- Nigeria with a per capita income of US$ 1,994 per annum in 2017 (correct)
Why is per capita income considered an inadequate measure of development?
Why is per capita income considered an inadequate measure of development?
- It does not take into account the distribution of income within a country (correct)
- It does not consider the education and health of individuals in a country
- It is not a reliable measure of a country's economic growth
- It is only based on the average income of individuals in a country
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