Question

increase in total income of a country may or may not lead to greater welfare of the masses. Explain (long ans )

Answer 1

Answer:

Answer: Explanation: Increase in total income of a country can be beneficial if the increase is evenly spread over different social groups. However If only the rich get richer and the poor remain where they were, income growth does not lead to growth in social welfare.

Answer 2

Answer:

Increase in total income of a country can be beneficial if the increase is evenly spread over different social groups. However If only the rich get richer and the poor remain where they were, income growth does not lead to growth in social welfare.