Nolivia Is a Small and Poor Nation, but Its Current

question 141

Multiple Choice

Nolivia is a small and poor nation, but its current president has a genuine desire to create more wealth for Nolivia citizens. The president has received recommendations from several of her advisors. Which of the following recommendations is likely to create the most wealth for Nolivia?

• A) Acquire more land by invading a neighboring country that is even poorer and weaker than Nolivia.
• B) Use foreign aid from other nations to purchase more tools and machinery.
• C) Establish a business environment that promotes and rewards entrepreneurship.
• D) Establish barriers to trade to protect Nolivia businesses from foreign competition.

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Definitions:

FACT Act

The Fair and Accurate Credit Transactions Act (FACT Act) is a U.S. legislation aimed at enhancing the accuracy of consumers' credit-related information and giving consumers more ability to combat identity theft.

Identity Theft

Using a computer to steal confidential information to clean out a person’s bank account, to run up credit card debt, to divert cash transfers, and to disrupt the financial and personal life of the victim.

Statute of Frauds

A legal principle requiring certain types of contracts to be written and signed to be legally enforceable, aiming to prevent fraud and misunderstandings.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of the parties.