Choose whether given statement is true/false:

Economic growth is entirely dependent on the political system of a nation.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
According to the data, which shows the economic growth of the nations, it can be seen that between 1950-2000, the nations with dictatorships performed economically better than democracies. However, the publication of this data does not mean that the nature of the political system defines the economic growth of a nation; rather that the economic growth and development of a nation are dependent on various factors such as the size of the population of that particular country, the global situation prevalent during that time, the economic priorities that the nation has set, etc.
Thus, economic growth is not entirely dependent on the political system of a nation.

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