Countries with more economic freedom have levels of economic growth that a.are generally lower than the growth rates of countries with less economic freedom. b.are similar to those of nations with less economic freedom since the level of investment, not economic freedom, determines the growth rate. c.are generally higher than those of nations with less economic freedom. d.cannot continue at high levels because too little government planning is being done.

The economies around the world works with the help of various entities, and agents, such as the…

Answered: Countries with more economic freedom…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 3CQQ

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Countries with more economic freedom have levels of economic growth that

	a.	are generally lower than the growth rates of countries with less economic freedom.
	b.	are similar to those of nations with less economic freedom since the level of investment, not economic freedom, determines the growth rate.
	c.	are generally higher than those of nations with less economic freedom.
	d.	cannot continue at high levels because too little government planning is being done.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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