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Homework answers / question archive / 1)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
1)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 8.5 Norway Singapore United Kingdom GDP per Person (Current US Dollars) 82,372.4 61,230.2 42,260.9 8.4 8.1 Brazil 5.7 9,126.9 4,449.8 4.1 Algeria Bangladesh 3.4 1,736.3 Countries with poor property rights enforcement generally have 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. Establish and enforce strong property rights. O Promote free trade by reducing or removing tariffs on imports from foreign countries. O Encourage its officials to facilitate business operations and encourage investment by accepting bribes. O Encourage transmission of knowledge by removing patents and copyrights.
A) Establish and enhance strong property rights
B) Promote free trade by reducing and removing Tariffs on import from foreign countries.
Hence government of a relatively poor country establish and enhance strong property rights and promote free trade by reducing and removing Tariffs on import from foreign countries.
