The poverty trap refers to:
A. poorer countries having a harder time buying the things that will end their poverty.
B. richer countries spiraling downward into poverty if they invest in the wrong industries.
C. richer countries spiraling downward into poverty if they fail to invest enough in physical capital.
D. All of these describe the poverty trap.
A. poorer countries having a harder time buying the things that will end their poverty.
You might also like to view...
A trade surplus could be balanced by all of the following except
a. borrowing from domestic citizens. b. selling domestic assets to foreigners. c. borrowing from foreigners. d. selling foreign assets already owned by U.S. citizens to foreigners.
GDP and GNP are identical when
a. exports and imports exactly balance. b. all domestic production is by domestically owned producers and no foreign production is carried out by domestic producers. c. production by domestic producers in other countries is greater than production by foreign producers domestically. d. there are no taxes.