In order to achieve high rates of economic growth countries must

Question

Quizplus · Accepted Answer

In order to achieve high rates of economic growth, a country should follow policies that promote economic freedom, such as restraining the growth of government, keeping taxes low, removing trade barriers, and following a monetary policy consistent with price stability. This allows for a favorable climate for businesses to grow and expand, leading to increased economic activity and job creation. Holding free elections is important for a democratic society but is not directly linked to economic growth. A government expenditure/GDP ratio of 40 percent may not necessarily lead to economic growth, and obtaining financial aid from foreign governments is not a sustainable long-term solution.

In Order to Achieve High Rates of Economic Growth Countries