If the vicious circle of poverty hypothesis were true at all levels of per capita income, then
No nation could ever achieve economic development if the vicious circle of poverty operated at every level of per capita income. Low income would continually restrict saving…
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If the vicious circle of poverty hypothesis were true at all levels of per capita income, then
Answer and explanation
Correct answer B
No nation could ever achieve economic development if the vicious circle of poverty operated at every level of per capita income. Low income would continually restrict saving and investment, preventing the growth in productive capacity needed to escape the circle.
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West Bengal SET (WB SET)