Whether as extreme poverty declines, growth by itself tends to be less successful at lifting additional people out of poverty.
Explanation of Solution
The assessment seems to be accurate because this is what seems to be happening in the developing and underdeveloped countries in the world. The underdeveloped as well as the developing countries that are commonly known as the third-world countries are trying to increase
The idea was very successful in its initial stages, but after a certain level, the additional impact by the economic resources to reduce poverty and increase economic growth started to decline. This is because the impact was not equal to the initial stage impacts. This means that the
Poverty: Poverty is the lack of a certain minimum amount of money that is required to live a healthy life by an individual.
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Chapter 21 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Principles of Microeconomics