Welfare of the people of a country is determined by:
The welfare of the people of a country is determined by:
a) Nominal GDP
b) Real GDP
c) Per capital real GDP
d) Per capita real GDP and a host of other factors
Anurag Pathak Changed status to publish April 10, 2023
Ans – d)
Explanation:-
Welfare refers to the overall well-being of every citizen of a country.
The overall GDP is the total of all residents of a country. But it does not show per-person income. It may be few people are earning 90% of the income of a country.
and most of the population is under the poverty line.
Thus Per capital real GDP can indicate the real welfare of the people of a country.
Apart from it, other factors such as health, pollution social security, and externalities are other factors that must also be clarified to show the true picture of the welfare of the people of a country.
Anurag Pathak Changed status to publish April 10, 2023
