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Q.

Mention if the given statement is true or false:


Gross National Income is the only way to measure a country’s economic development.


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a

True

b

False 

answer is B.

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Detailed Solution

The above statement is false.
Gross National Income is only one indicator used to measure a country’s economic development. Other indicators include life expectancy at birth, mean years of schooling, the Human Development Index, etc. Gross National Income refers to the income received by a country from foreign as well as domestic operations. It helps in knowing the economic status of a country.
Thus, the corrected statement is: “Gross National Income is one of the ways to measure a country’s economic development.”
 
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