Given below are two statements:
Statement I: Supply side policies are long term measures to increase the productive capacity of the economy leading to an outward shift in the production possibility curve.
Statement II: Privatisation is the act of selling state owned assets in order to increase competition, productivity and efficiency.
In light of the above statements, choose the correct answer from the options given below:
1
Both Statement I and Statement II are true.
2
Both Statement I and Statement II are false.
3
Statement I is true but Statement II is false.
4
Statement I is false but Statement II is true.