If Political Instability and Corruption Could Be Eliminated, Economic Growth

question 4

True/False

If political instability and corruption could be eliminated, economic growth would increase in most developing countries.

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Definitions:

Interest Rates

The fee that lenders impose on borrowers for utilizing funds, represented as a percentage of the principal sum.

Investment

The process of distributing funds with the aim of earning an income or profit.

Classical Economics

Classical economics is a school of thought in economics that emphasizes the importance of free markets, the role of competition, and the idea that economies are self-regulating systems governed by natural laws of production and exchange.

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate reflection of an economy's size and how it's growing over time.