Which one of the following is not valid criticism against classical theorists of political development?
AThey wrongly assumed that per capita income rests diminishing returns
BThey underestimated technological progress
CNone of the above
DThey failed to analyse problems of aggregate demands
EThey overestimated technological progress
Correct answer
E. They overestimated technological progress
Explanation
The correct answer is They overestimated technological progress.