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Trends of Government Spending

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Question

_____________ means sustained increase in real per capita income that promotes economic welfare by reducing poverty, unemployment and inequalities in distribution of income.

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Solution

Dear student,

The answer is economic growth.

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Q. Who gave the following statement?
"Economic Development is the process by which an economy is transformed from one whose rate of growth of per capita income is small or negative, to one in which a significant self-sustained rate of increase of per capita income is a permanent and long term feature".

In which of the following processes, the real per capita income in a country increases over a long period of time?

Q. Assertion (A): Per capita income is a better indicator than total income to compare the development of nations.

Reasoning (R): Per capita income addresses how income is distributed among people.

Q. Imagine two countries A and B in the year 2004.

Country A focuses on expanding on its scale of production and achieving economic progress. Country B focuses on employing new technologies in production and achieving economic development. Additionally, the per capita income of A is

748, a n d t h e p e r c a p i t a i n c o m e o f B i s

713.

Choose the correct option.

Q. Why is per capita income not an adequate indicator of the economic development of a country?

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