MPSC PYQEconomics

According to Schumpeter, a. Development is a discontinuous and spontaneous change in the stationary state. b. While growth is a gradual and steady change in the long run which, comes about by a gradual increase in the rate of savings and population. Which of the statement above is/are correct?

A.a only
B.b only
C.a and b
D.None of the above

Correct answer: C

Source paper

MPSC Gazetted CS Combined Pre 2023 (English)

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