"Suppose the average income of a country is not getting increased over time but the records of the national income shows a rise." What does this situation signify?
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Answer:
this is because of the increase in the population
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The average income of a country is not getting increased over time but the records of the national income show a rise, this happens due to :
- the average income refers to the per capita income or the income which is generated by the individual in a given territory
- the national income in turn is the total of all goods and services that are generated in the country over a period
- if the average income of some regions is not increasing this doesn't mean that the whole nation will not prosper
- in a populated country like India, the national income does not depend on the average income, as with the increased population the chances of growth are more
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