Asked by Joshua Rieser on Jul 09, 2024

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A suggested policy for industrially advanced countries to adopt to encourage economic growth in developing countries would be

A) cutting debt relief for DVCs.
B) directing foreign aid to the more affluent DVCs.
C) restricting immigration of low-skilled workers from DVCs.
D) reducing tariffs and import quotas on labor-intensive products.

Tariffs

Taxes imposed by a government on goods and services imported from other countries, used to control trade, raise government revenue, or protect domestic industries.

Import Quotas

Import Quotas are government-imposed limits on the quantity of certain goods that can be imported, aiming to protect domestic industries.

Debt Relief

A measure or a set of measures aimed at reducing or restructuring the debt of an individual, corporation, or nation to alleviate financial burden.

  • Examine the effects of strategies implemented by industrialized nations on the economic development of emerging countries.
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PF
Phantom FantasyJul 13, 2024
Final Answer :
D
Explanation :
Reducing tariffs and import quotas on labor-intensive products from developing countries can help stimulate their economies by allowing them greater access to markets in industrially advanced countries. This can lead to increased exports, job creation, and economic growth in the developing countries.