Real per capita income growth is considered the best indicator of improvements in average living standards and thus the "true" measure of economic growth from a welfare perspective.
Which one of the following is generally regarded as the true index of economic growth?
Asked in WBCS Main Paper 5 2022 · Topic: National Income & Gross Domestic Product (Per Capita Income and its significance)
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Answer: B. A sustained increase in real per capita income.
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