Countries that have adopted liberal reforms and substantially increased their economic freedom rating in recent years

a. experienced falling income levels per capita during 1995-2009.

b. grew slowly during 1995-2009.

c. achieved impressive growth rates of real GDP per person during 1995-2009.

d. have grown less rapidly than high income industrial economies.

Question

Amirah Choi

Business

24 January, 15:38

Countries that have adopted liberal reforms and substantially increased their economic freedom rating in recent years

a. experienced falling income levels per capita during 1995-2009.

b. grew slowly during 1995-2009.

c. achieved impressive growth rates of real GDP per person during 1995-2009.

d. have grown less rapidly than high income industrial economies.

+2

Answers (1)

Know the Answer?

Briley Ali · Answer 1

C) achieved impressive growth rates of real GDP per person during 1995-2009.

Explanation:

First of all, it is GDP per capita, not GDP per person.

If we want examples to prove this argument, all we need to do is look at China, India, Brazil, South Africa and even Russia (to a lower extent). These are the famous BRICS, countries that had huge growth rates during that period (1995 - 2009). After the great recession (2008 - 2010) their economic growth slowed down.