Choose whether the statement is true/false:

Per capita income is the only indicator to measure the economic development of a country.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Per capita income is not the only indicator for measuring the economic development of a country, but it is a standard indicator. Per capita income is also known as the average income of a nation. Dividing the total income of a country by its total population yields the per capita income. A higher per capita income implies that people have more money with them. It also means that people have high purchasing power. This, in turn, will help the country's economic development. The other indicators for measuring the economic development of a country include Human Development Index, infant mortality rate, maternal mortality rate, literacy rate, and so on. Hence the correct statement would be, Per capita income is not the only indicator to measure the economic development of a country.

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