Choose the statement that is true/false:Suppose records show that the average income in a country has been increasing over a period of time. From this, can we conclude that all sections of the economy have become better?

Choose the statement that is true/false:


Suppose records show that the average income in a country has been increasing over a period of time. From this, can we conclude that all sections of the economy have become better?


  1. A
    True
  2. B
    False 

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    Solution:

    The above statement is false. This is so that averages can hide disparities in the income of the two sections. Additionally, it might imply that only one area of the economy is expanding while others are going through a recession. Using India as an example, the service sector is expanding quickly while the agriculture sector is having many issues. Therefore, we conclude that all sections of the economy have not become better.
     

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