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  9. Q145

SSC MTS & Havaldar 2016 · Question 145 of 162

Average income is also called ­________.

  1. ANet National Income
  2. BNet National Product
  3. CPer-capita incomeCorrect
  4. DTotal income

Answer: C. Per-capita income

Explanation

Per capita income or average income measures the average income earned per person in the given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population. This is used to compare the wealth of the population of different regions. 77. Answer: c Explanation: Money is a medium of exchange, a measure of value and a standard of deferred payments. The most important function of money is that it acts as a medium of exchange. Money is accepted freely in exchange for all other goods and services. The money supply of a country consists of currency (banknotes and coins) and demand deposits.

Source: SSC MTS 2016 re-exam (held 10-Oct-2017 Shift 1) paper with key+explanations, via prepp.in · reliable-secondary

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