Explanation:

- Statement 1: The expenditure on education and health make short term impact

- Generally, investments in education and health yield long-term benefits, improving quality of life and economic productivity over time.

- Statement 2: The expenditure on education and health can be reversed

- Typically, once made, investments in education and health cannot be easily reversed, as they involve resource allocation that leads to potential long-term benefits.

- Option 1: Both are correct

- This option is incorrect because both statements are generally not true.

- Option 2: Both are incorrect

- This option is correct because both statements misunderstand the nature of education and health investments.

- Option 3: Statement 1 is correct and statement 2 is incorrect

- This option is incorrect because neither statement is adequately accurate.

- Option 4: Statement 1 is incorrect and statement 2 is correct

- This option is incorrect because both statements contain inaccuracies.