Which measure is used for comparing the countries?

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Total income

Average income

National income

None of the above

answer is B.

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Detailed Solution

Average Income is used to compare the countries.
Average income is also known as per capita income. It is the mean income of the people in an economic unit such as a country or city. The total income of a country is divided by its population. When comparing different countries, their income is considered the most important attribute. Countries with higher income are more developed than countries with lower incomes. We compare the countries with their average income or per capita income because different countries have different populations. So, comparing total income will not tell us what an average person earns. Average income or per capita income is the total income of a country divided by its total population.

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