Consider the following statements.
Statement I: As of 2020, in many developed countries, the service sector contributes more than 70% of the GDP.
Statement II: The service sector's contribution to GDP is consistently lower than that of the manufacturing sector in emerging economies.
In the light of above statements, choose the correct answer.
1
Both Statement I and Statement II are correct.
2
Both Statement I and Statement II are incorrect.
3
Statement I is correct, but Statement II is incorrect.
4
Statement I is incorrect, but Statement II is correct.