Exams › IBPS PO › General Awareness

Which statements are correct regarding economic growth? (a) The systematic failure by Keynesian economists to distinguish between consuming and producing value is the single most damaging fallacy. (b) Economic growth and declines have always been led by changes in business and durable goods investment, while consumer spending has been stable.

1. Only (a)
2. None of these
3. Both (a) and (b)
4. Neither (a) nor (b)

Correct answer: None of these

Solution

Both statements are not correct as general statements about economic growth. They are overly absolute and do not accurately represent standard macroeconomic theory, so the correct choice is that none of the given statements is correct.

Related IBPS PO General Awareness questions

• As per the World Employment and Social Outlook: Trends, released by the ILO in January 2018, the number of jobless persons in India in the year 2019 would be:
• Which of the following best describes the author's view of trickle-down theory?
• Which of the following is an indicator of retail inflation in India?
• Which of the following best describes the definition of National Income?
• What does the line, "Consumer preferences control the economy, but savings and investment are the push to drive it forward," imply?
• The World Economic Outlook (WEO) is a survey conducted and published by:

⚔️ Practice IBPS PO General Awareness free + battle 1v1 →