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Consider the following statements: 1. India’s National Income will always be higher than India’s per capita Income in a year. 2. National Income increases when there is full and optimum utilization of nation’s resources. 3. Per Capita Income increases when the rate of growth national income is greater than the rate of growth of population. Which of the statements given above is/are correct?

Consider the following statements: 1. India’s National Income will always be higher than India’s per capita Income in a year. 2. National Income increases when there is full and optimum utilization of nation’s resources. 3. Per Capita Income increases when the rate of growth national income is greater than the rate of growth of population. Which of the statements given above is/are correct? Correct Answer 1, 2 and 3

Option 4 is Correct. i.e. 1, 2 and 3.

  • National Income will always be higher than India’s Per Capita Income in a year because Per Capita Income  is calculated by dividing population from National Income.
  • So Per Capita Income will always be lesser than National Income. Hence, Statement 1 is correct.
  • National income is the total value a country’s final output of all new goods and services produced in one year.
  • Thus when there is full and optimum utilization of Nation’s resources, productivity will be high and when productivity is high out-put will be high then national income will increase.
  • Hence Statement 2 is correct.
  • Per Capita income is national income divided by population.
  • So naturally Per Capita Income increases when the rate of growth national income is greater than the rate of growth of population.
  • So, statement 3 is correct.

Related Questions

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