Problem
1. Foreign Aid and Economic Development It is widely recognized that foreign aid that promotes productivity in developing economies is superior to merely shipping products like food to these countries. Yet the latter is the approach frequently taken. Why do you think this is the case?
2. Worlds Apart GNI per capita income most recently was about 155 times greater in the United States than in the Congo. Suppose GNI per capita grows an average of 3 percent per year in the richer country and 6 percent per year in the poorer country. Assuming such growth rates continue indefinitely into the future, how many years would it take before per capita income in the Congo exceeds that of the United States? (To simplify the math, suppose at the outset per capita income is $155,000 in the richer country and $1,000 in the poorer country.)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.