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Single Answer MCQ
Q-00045277

Which of the following defines 'per capita income'?

1

Total income of a country

2

Income of a single individual

3

Average income per person

4

Median income of a country

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Sandeep Chaturvedi

Sandeep Chaturvedi

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Answer and Solution

Answer

C. Average income per person

Solution:

Per capita income is defined as the average income earned per person in a given area, calculated by dividing the total income by the population, thus reflecting the economic condition of individuals.

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