Choose given statement True/False:

If people are not a source, they are a liability.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
If people are not a source, they are a liability to the economy. Every economy has two kinds of people, one who acts as an asset and contributes to GDP by earning some income, and the second, who acts as a liability, and it is the economy's responsibility to serve them like the senior citizens or children. For example, there are four members in a family: Mr Sharma, Mrs Sharma, Rahul ( their 5-year-old kid), and Rakesh ( Rahul’s Grandfather). Mr Sharma and Mrs Sharma work in XYZ Pvt. Ltd. and serve as an asset to the nation. In contrast, the expenses of Rahul and Rakesh are borne by the earning members and serve as liability for the representative of the economy, Mr Sharma and Mrs Sharma.

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