Asked by Smitty Hendrix on May 08, 2024
Verified
One policy recommended by most economists for promoting economic growth in DVCs is the nationalization and protection of domestic industries.
Nationalization
The process by which a government takes ownership and control of private assets or industries, often to ensure public access or control.
Domestic Industries
Refers to the sectors and companies that produce goods and services within a country's borders, contributing to its overall economy.
- Pinpoint the main impediments to economic development in DVCs.
Verified Answer
SB
Sabino BoyzoMay 11, 2024
Final Answer :
False
Explanation :
Most economists do not recommend nationalization and protection of domestic industries as it can lead to inefficiencies and reduced competition. Instead, they recommend policies that promote international trade and investment, education and skill development, infrastructure development, and the establishment of market-friendly institutions.
Learning Objectives
- Pinpoint the main impediments to economic development in DVCs.
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