Which of the following is a public policy to foster economic growth that typically would be favored by the government of a high-income country rather than a developing country?

Question

Quizplus · Accepted Answer

Fostering research and development (R&D) activities is a strategy often pursued by high-income countries to stimulate economic growth through innovation and the development of new technologies. High-income countries typically have the necessary infrastructure, institutions, and financial resources to support R&D, which can lead to advancements in industries and services, enhancing productivity and competitiveness on a global scale. Developing countries, on the other hand, might focus more on basic needs such as reducing corruption, developing their market economies, and increasing international trade to foster economic growth.

Which of the Following Is a Public Policy to Foster