You are an economic consultant visiting a Less-Developed Country (LDC). Which of
ID: 1214522 • Letter: Y
Question
You are an economic consultant visiting a Less-Developed Country (LDC). Which of the following pieces of advice would you NOT give the LDC’s government if the objective of the LDC is to stimulate its long-term economic growth? (Note: all of the following are pieces of advice supported by our text, except one; choose this one).
A. Institute free market policies and free international trade.
B. Keep inflation and taxes at a reasonable level by limiting government spending, borrowing, and printing of money.
C. Eliminate government and other forms of corruption and set up a government that protects civilian rights to produce and consume in a safe environment.
D. Keep essential public services, such as roads, highways, sewage systems, police departments, and the judicial system in good and properly functioning condition.
E. Increase government spending, increase the money supply, and keep prices of consumer products artificially low in order to stimulate overall economic growth.
Explanation / Answer
E. Increase government spending, increase the money supply, and keep prices of consumer products artificially low in order to stimulate overall economic growth.
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