My generator doesn't stop; iterates through all values on the list

Please take a look on the code. What I'm trying to achieve:

I will be glad if you teach me how to do it properly. I try to fix the problem for past 2 days with no success.

dict = {"v1": 0,"v2": 0}
list = ["a","b"]


def calc(n):
    import time
    i = 0
    while True and i < len(list) and n <= len(dict):
        while True:
            dict["v" + str(n)] = list[i]
            i = i + 1
            time.sleep(1)
            print(dict)
            if i == len(list):
                dict["v" + str(n)] = 0
                calc(n+1)

Desired output would be:
{'v1': 'a', 'v2': 0}
{'v1': 'b', 'v2': 0}
{'v1': 0, 'v2': 'a'}
{'v1': 'a', 'v2': 'a'}
{'v1': 'b', 'v2': 'a'}
{'v1': 0, 'v2': 'b'}
{'v1': 'a', 'v2': 'b'}
{'v1': 'b', 'v2': 'b'}

What i get is:

{'v1': 'a', 'v2': 0}
{'v1': 'b', 'v2': 0}
{'v1': 0, 'v2': 'a'}
{'v1': 0, 'v2': 'b'}