Which of the following will be required for a country to move up the income ladder and achieve high-income status?
A) rapid growth of the money supply.
B) restrictions limiting the import of goods from other nations, particularly low-wage countries.
C) tax incentives that encourage consumption rather than investment
D) sustained economic growth

Question

Quizplus · Accepted Answer

Sustained economic growth is necessary for a country to move up the income ladder and achieve high-income status. This growth is typically achieved through investment in physical and human capital, technology, and innovation, which lead to increased productivity and efficiency in the economy. Rapid growth of the money supply or tax incentives that encourage consumption rather than investment may lead to inflation and reduce the resources available for investment, hindering economic growth. Restrictions limiting the import of goods from other nations may also limit access to technology and innovation, which are key drivers of economic growth.

Which of the Following Will Be Required for a Country