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Chapter 39 - The economics of developing countries. In this chapter, you will learn to: Describe how the World Bank distinguishes between industrial advanced countries (high-income nations) and developing countries (middle-income and low-income nations), list some of the obstacles to economic development, explain the vicious circle of poverty that afflicts low-income nations, discuss the role of government in promoting economic development within low-income nations, describe how industrial nations attempt to aid low-income countries.
