Which of the following would be most likely to improve the standard of living of a less-developed country?
A) development of strong labor unions.
B) more foreign investment, attracted by the expectation of economic and political stability.
C) adoption of trade barriers (higher tariffs and quotas).
D) widespread use of price controls to allocate goods and resources.

Question

Quizplus · Accepted Answer

Foreign investment can bring in capital, technology, and knowledge, which can result in job creation, improved infrastructure, and overall economic development. This can lead to an increase in the standard of living for people in less-developed countries. Strong labor unions, adoption of trade barriers, and widespread use of price controls may have unintended negative consequences on economic growth and development.

Which of the Following Would Be Most Likely to Improve