What can the government of a relatively poor country do to promote economic prosperity? check all that apply. encourage transmis

Question

3 years ago

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What can the government of a relatively poor country do to promote economic prosperity? check all that apply. encourage transmis

sion of knowledge by removing patents and copyrights. encourage its officials to facilitate business operations and encourage investment by accepting bribes. promote free trade by reducing or removing tariffs on imports from foreign countries. establish and enforce strong property rights?

Business

2 answers:

aksik [14] · Answer 1 · 2022-06-26T09:05:26+03:00

I believe the answer is:

- Establish and enforce strong property rights.

(this would encourage people to establish businesses and generate wealth for the country)

- Promote free trade by reducing or removing tariffs on imports from foreign countries.

( this would make other country become interested to make an investment to their country)

- Give inventors and authors exclusive, temporary rights to market and sell their creations.

(to encourage innovations that might be sold to other countries in order to obtain net GDP)

- Minimize corruption among government officials.

( so the money can be properly allocated for government welfares to help the citizens)

scoray [572] · Answer 2 · 2022-06-26T07:00:52+03:00

The only answer that seems to make sense is to reduce tariffs on imports but this only makes sense if it doesn't adversely affect local producers ie that it is on items which are not locally produced so as not to compete with the former items but to encourage cheaper goods for sale to assist consumers.