Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) General Knowledge Economy National Income Accounting
With reference to the 'Neo Classical Approach to Economic Development', which of the following statements are correct?
I. It considers economic development to be the remover of poverty and inequality.
II. It assumes that growth results from the long-term effects of capital formation.
1
Neither I nor II
2
Both I and II
3
II only
4
only I