Which one of the following economists gave the term ‘Vicious Circle of Poverty’ ?
Ragnar Nurkse is associated with the vicious circle of poverty. Low incomes limit saving and investment, keeping productivity and incomes low and thereby reinforcing poverty.
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Which one of the following economists gave the term ‘Vicious Circle of Poverty’ ?
Answer and explanation
Correct answer C
Ragnar Nurkse is associated with the vicious circle of poverty. Low incomes limit saving and investment, keeping productivity and incomes low and thereby reinforcing poverty.
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Gujarat SET (GSET)