Question

Problems and Applications Q7

The International Property Rights Index (IPRI) scores countries based on the legal and political environment and how well property rights are protected.

The following table lists the IPRI scores and GDP per person in 2018 for six countries.

	IPRI Score	GDP per Person
		(Current US Dollars)
Norway	8.5	82,372.4
Singapore	8.4	61,230.2
United Kingdom	8.1	42,260.9
Brazil	5.7	9,126.9
Algeria	4.1	4,449.8
Bangladesh	3.4	1,736.3

Countries with poor property rights enforcement generally have (lower/higher) income per person than those with better property rights protection.

What can the government of a relatively poor country do to promote economic prosperity? Check all that apply.

-Promote free trade by reducing or removing tariffs on imports from foreign countries.

-Give inventors and authors exclusive, temporary rights to market and sell their creations.

-Establish and enforce strong property rights.

-Minimize corruption among government officials.

Answer 1

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