Choose whether the statement is true/false:

Average income is also per capita income.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
Average income is also per capita income.
It makes sense that the national income is equal to the national income of all citizens. This provides us with the nation's overall income. Total income is not the most helpful metric for comparing countries, though. Since populations vary throughout nations, comparing comprehensive income won't help us determine what the average person will make. Are citizens in one country more fortunate than those in another? As a result, we compare the average income, calculated by dividing the nation's total income by its whole population. Per capita income is another name for the average income.

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