What is per capita income of average income?how is it calculated
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per capita income and average income are same as they are calculated by dividing the income of whole country by its population
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Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a country or city.
It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.
Explanation:
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