Question

What is average income ? Why per capita Income are varied among different state in the country?

Answer 1

It is calculated by dividing the area's Total Income(Gross Income) by its total population.

For example if the Total Income of a region for the year 2016 was $75000, and the total population(young, old, men, women or any gender all above the ground) of that region in 2016 was 35,000 people.

Then the Per Capita Income of that Region =$75000/35000 =$2.143 approx.

GDP per capita also allows us to rank countries into high-, middle-, or low-income groups. Low-income countries are those with $1,025 per capita GDP per year; middle-income countries have a per capita GDP between $1,025 and $12,475; while high-income countries have over $12,475 per year per capita income.

Answer 2

Answer:

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Explanation:

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