Question : 11) Countries that enjoy economic growth A) have property rights and : 1228343

11) Countries that enjoy economic growth

A) have property rights and markets which provide incentives for discovering new technologies.

B) have economies that allow the government to make decisions in everyone’s best interests.

C) restrict international trade so that domestic industries can grow.

D) place high taxes on saving and investment.

E) place controls on property rights so that firms are protected from competition.

12) For economic freedom to exist,

A) copyright laws must be abolished and markets supervised by the government.

B) democracy must exist.

C) property rights must be protected and markets must be free.

D) human capital must be given away free.

E) money must be free.

13) Hong Kong is an example of an economy that

A) does not experience economic growth because it is not a democracy.

B) experiences economic growth in spite of the fact that is lacks democratic freedom.

C) grows more slowly than other Asian countries because property rights are not valued.

D) needs to promote investment so that economic growth can occur.

E) lacks economic freedom and therefore experiences the slowest economic growth of all developed economies.

14) A condition necessary for a country to achieve economic growth is

A) high tax rates so the government can purchase a lot of capital equipment.

B) strict environmental regulations.

C) economic freedom.

D) government control of the banking system.

E) democracy.

15) Economic freedom is a precondition for economic growth. Which of the following is a characteristic of economic freedom?

i.A democratic form of government

ii.Property rights must be protected.

iii.The government must support and pay for inventions and innovations.

A) i only

B) ii only

C) Both i and ii

D) Both ii and iii

E) Both i and iii

16) Economic freedom is present, at least in part, when

A) there are no property rights to limit people’s freedom.

B) there is no private property.

C) people are able to make personal choices.

D) there is no government.

E) money is free.

17) Economic growth is slow or absent in some economies because those lack

A) political freedom.

B) economic freedom.

C) democracy.

D) cultural freedom.

E) a strong government.

18) A key reason why some countries are growing very slowly is

A) they lack a democratic government.

B) they lack economic freedom.

C) their inflation rate is too high.

D) they are too poor, so there is no saving.

E) there is too much competition within their economies.

19) A reason why many of the third world countries are not achieving an increase in their standard of living is that they

A) don’t have enough natural resources.

B) don’t have strong military power to force people to work harder.

C) don’t have social institutions with a strong rule of law and economic freedom.

D) strongly encouraged international trade.

E) don’t have a strong central government.

20) Property rights

A) don’t include intellectual property.

B) don’t include financial property.

C) don’t include physical property.

D) include physical, financial, and intellectual property.

E) slow the economic growth by placing limits on who can use what.