Between 2006 and 2010,per capita real gross domestic product (GDP)in China grew at an average rate of 10.62% per year.In contrast,its economy only grew by an average rate of 0.25% from 1961 to 1965.Which of the following factors would have contributed most to this rapid escalation in growth?

Question

Quizplus · Accepted Answer

The establishment of pro-growth institutions, such as opening up to foreign investment, implementing market-oriented reforms and privatizations, and allowing more private enterprise, would contribute most to rapid economic growth. Factors such as rapid population growth (A), large increases in average prices (C), and restrictions on imports and exports (E) could potentially lead to short-term growth but may not be sustainable in the long run. Dramatic reductions in tax rates (D) could potentially stimulate growth, but it would depend on the specific tax policies implemented.

Between 2006 and 2010,per Capita Real Gross Domestic Product (GDP)in