/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 7 List the areas where government ... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 20: Q. 7 (page 496)

List the areas where government policy can help economic growth.

Short Answer

Expert verified

Education, Saving and Investment, Infrastructure, SEZ, Scientific Research.

Step by step solution

01

Step1. Introduction

There are many policies that are implemented by the government in different areas so that the economy can attain the highest economic growth. Under these policies, some laws are made for the benefit of the economy as a whole.

02

Step2. Explanation

In every area, different policies are implemented.

In Education government implements a policy that the child below the age of 16 has to go to school and take education.

In Saving and Investment, the government imposes higher tax on the luxury product so that the people of the economy start saving and investing their money.

In Infrastructure, the government passes funds so that roads and buildings can be developed in an economy.

SEZ is a special economic zone under which government implements free trade in some special countries by which the trade margin increases.

In Scientific Research government give support to research done in an economy and provide technical training as needed so it can spread new technologies effectively.

All these policies help in economic growth.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.

Explain the difference between property rights and contractual rights. Why do they matter to economic growth?

Why does productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?

How is the concept of technology, as defined with the aggregate production function, different from our everyday use of the word?

What is an aggregate production function?
See all solutions

Recommended explanations on Economics Textbooks

Taxation Economics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.