With reference to the above passage, the following assumptions have been made : 1. Rising GDP is essential for a country to be a developed country. 2. Rising GDP guarantees a reasonable distribution of income to all households. Which of the above assumptions is/are valid ?

• The passage states that rising GDP creates employment and investment opportunities and allows funds to be set aside for a good life, but it does not claim that GDP growth is the sole or essential criterion for a country to be classified as 'developed'.

• Assumption 1 is invalid because the text does not establish a necessary condition that a country must have rising GDP to be considered developed; it only highlights the importance of income growth in the development lexicon.

• The passage mentions that households and governments are 'increasingly able' to set aside funds, which implies an increase in aggregate resources, but it does not state that this growth ensures or guarantees a reasonable distribution of income among all households.

• Assumption 2 is invalid because the text does not address income distribution or equity; it focuses on the aggregate growth of GDP and the potential for increased production of goods that make for a good life.

• Since the passage supports neither the necessity of GDP for developed status nor the guarantee of equitable income distribution, both assumptions are unsupported by the text.

• Therefore, the correct option is (d) Neither 1 nor 2.