(I)Policies such as price controls,licensing restrictions,and high taxes that reduce the volume of exchange will retard economic progress.
(II)Political instability,regulation,and high rates of taxation have undermined private ownership rights in many countries,reducing economic prosperity.
A)Both I and II are true.
B)Both I and II are false.
C)I is true;II is false.
D)I is false;II is true.

Question

Quizplus · Accepted Answer

Both statements are true and highlight factors that can hinder economic progress and reduce prosperity. Policy measures like price controls and high taxes can discourage economic activity and reduce the volume of exchange, while political instability, regulation, and weak private ownership rights can undermine the incentives for businesses to invest in and grow their operations. Together, these factors can impede economic progress and limit opportunities for growth and development.

(I)Policies Such as Price Controls,licensing Restrictions,and High Taxes That Reduce