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 favoritism and bribery are common have stronger rates of growth.

Question

Quizplus · Accepted Answer

A strong rule of law means a fair and impartial legal system that enforces contracts and property rights, protects individuals and businesses from arbitrary government actions, and provides a stable and predictable environment for economic activity. These conditions are conducive to investment, innovation, and entrepreneurship, which in turn lead to faster economic growth. Countries with a weak rule of law, on the other hand, may suffer from corruption, uncertainty, and instability that deter economic actors and hinder growth. Therefore, A is the best choice.

Which of the Following Accurately Describes the Impact of the Rule