Which of the following accurately describes the impact of the rule of law on a country's economic growth rate?
A)Countries with a strong rule of law have faster economic growth.
B)Countries with a weak rule of law have faster economic growth.
C)Countries that enforce property rights through lawsuits have slower economic growth.
D)Countries where favouritism and bribery are common have stronger rates of growth.
E)Countries in which the government regularly takes control of industries have faster economic growth.

Question

Quizplus · Accepted Answer

The rule of law ensures that contracts and property rights are enforced, which gives businesses and investors a sense of security and reduces uncertainty. This promotes investment, innovation, and growth, leading to higher economic growth rates in countries with a strong rule of law.

Which of the Following Accurately Describes the Impact of the Rule