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Q.

Mention if the given statement is true or false:

Per capita income is another name of national income.

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a

True

b

False

answer is B.

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Detailed Solution

The above statement is false.
National income refers to the total income of the nation. On the contrary, per capita income is the country's average income. It is obtained by dividing the country's total income by its total population. But, it does not show how well a country's income distribution is. However, it is one of the common indicators used for measuring the economic development of a country. So, national income and per capita income are different.
The correct statement is, "Per capita income is another name for average income."

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Mention if the given statement is true or false:Per capita income is another name of national income.