Question

Which of the following is not a part of the definition of economic development given by Prof. Meier and Baldwin?

• A. Process
• B. Real national income
• C. Per capita income
• D. Long period

Answer 1

The correct option is C Per capita income

Prof. Meier and Baldwin defined economic development as a process whereby an economy’s real national income increases over a long period of time. The definition stresses three elements of economic development. They are: a process, an increase in real national income, and a long period of time.