Question 1
The vicious-circle-of-poverty hypothesis states that poor countries
◦ are unable to save and invest enough to accumulate capital stock that would help them grow.
◦ cannot develop because they lack the ability to educate their workers.
◦ cannot develop because their economic policies are ineffective.
◦ cannot develop because people don't consume due to lack of goods and services.
Question 2
Capital flight refers to the fact that both human and financial capital
◦ flow into developing countries to build much needed infrastructure.
◦ leave developing countries in search of a higher rate of return.
◦ leave developed countries in search of a higher rate of return.
◦ flow into developing countries to invest in risk free investments.
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