Economics · Economic Growth and Development
State which of the following statements is incorrect regarding economic growth and development.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Economic growth occurs when the real per capita income in an economy increases over time.
- 2Economic growth guarantees that poverty is completely eradicated automatically.✓
- 3Economic development involves progressive qualitative and structural changes in an economy.
- 4Economic development requires institutional, institutionalized, and technological modifications.
Correct answer
Economic growth guarantees that poverty is completely eradicated automatically.
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