Which of the Following Would Be Most Likely to Improve

question 48

Multiple Choice

Which of the following would be most likely to improve the standard of living of a less-developed country?

• A) Development of strong labor unions.
• B) More foreign investment, attracted by the expectation of economic and political stability.
• C) Adoption of trade barriers (higher tariffs and quotas).
• D) Widespread use of price controls to allocate goods and resources.

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Definitions:

Tangible Costs

Readily identifiable costs that can be measured with some precision.

Intangible Costs

A category of location costs that cannot be easily quantified, such as quality of life and government.

Competitiveness

The ability of a company, sector, or nation to offer products and services that meet the quality standards of the local and global markets at competitive prices.

Corruption

The abuse of entrusted power for private gain, often undermining integrity and fairness in various sectors.