Which of the following will be required for a country to move up the income ladder and achieve high-income status?

Question

Quizplus · Accepted Answer

Sustained economic growth is essential for a country to move up the income ladder and achieve high-income status. This means that the country must consistently increase its productivity, invest in human resources and infrastructure, attract foreign investment, and promote innovation and technological advancement. Rapid growth of the money supply or tax incentives that encourage consumption will not necessarily lead to sustained economic growth, and restrictions on imports can actually hinder a country's economic development by limiting access to essential goods and services.

Which of the Following Will Be Required for a Country