APPSC Group-I Prelims 2023 Paper I · Question 62

Question 62 of the APPSC Group-I Prelims 2023 Paper I (8 January 2023). Try it first, then open the answer and explanation.

1. Prelims 2023 · P-I · Q62 · Indian & AP Economy · National Income & Growth

   The economist who said that the “Net Social Product and the Social Income are one and the same thing” is

   “నికర సామాజిక ఉత్పత్తి, సామాజిక ఆదాయం రెండూ ఒకటే” అని చెప్పిన ఆర్థికవేత్త

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   Answer: J.R. Hicks

   సమాధానం: జె.ఆర్. హిక్స్

   In The Social Framework, J.R. Hicks argued that the net social product and the social income are the same total seen from two sides. The value of the net output produced equals the incomes earned by the factors that produced it.

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