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Over the years, per capita income is: 
  • a)
    Increasing 
  • b)
    Decreasing
  • c)
    Constant
  • d)
    Galloping
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Over the years, per capita income is:a)Increasingb)Decreasingc)Constan...
Even though over a period of 63 years the national income has increased about 18 times but the per capita income in India has increased about nearly six times in the same period this is because of increase in the population rate so over a period of time per capita income is increasing but at a moderate and low rate
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Over the years, per capita income is:a)Increasingb)Decreasingc)Constan...
Explanation:

Factors contributing to the increase in per capita income over the years:
- Economic growth: As the economy grows, there are more opportunities for businesses to expand and create more jobs, leading to an increase in income levels.
- Technological advancements: Advancements in technology have increased productivity and efficiency in various sectors, leading to higher incomes for individuals.
- Education and skill development: Investments in education and skill development have helped individuals acquire the necessary skills to secure better-paying jobs.
- Government policies: Implementing policies that promote economic growth, employment, and income distribution can contribute to an increase in per capita income.
- Globalization: Increased trade and investment opportunities have opened up new markets and created more job opportunities, contributing to higher income levels.

Impact of increasing per capita income:
- Improved standard of living: Higher per capita income allows individuals to afford better healthcare, education, housing, and overall quality of life.
- Reduced poverty levels: Increasing per capita income can help lift people out of poverty by providing them with the means to meet their basic needs.
- Economic development: Higher per capita income can stimulate economic development by increasing consumer spending, investment, and overall economic activity.
- Social stability: Increasing per capita income can contribute to social stability by reducing income inequality and promoting a more equitable distribution of wealth.
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Over the years, per capita income is:a)Increasingb)Decreasingc)Constantd)GallopingCorrect answer is option 'A'. Can you explain this answer?
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