Economic development doesn`t solely depend on the increase in absolute and per capita real Gross National Product (GNP). It also requires improvement in the standard of living, which requires decline in poverty and unemployment. Lets understand each option for clarity:

Option 1: If industrial output fails to keep pace with agricultural output, it doesn`t necessarily mean it hampers economic development, as both sectors can contribute to the economy.

Option 2: Similar to option 1, if agricultural output fails to keep pace with industrial output, it`s not directly indicative of a lower level of economic development. It`s possible that there is economic transition towards industrialisation.

Option 3: Increase in poverty and unemployment indicates that benefits of increased GNP are not reaching to masses which is counter to economic development. Thus, even if there`s an increase in real GNP, it may not represent a higher level of economic development.

Option 4: If imports grow faster than exports, then the country might be running a trade deficit. However, having a trade deficit does not always mean the country is not developing economically.