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Business, 17.03.2020 18:26 349222

What impact do you think the following events will have on long run economic growth? Why?

a) The dictator of Turan has recently begun to arbitrarily seize farms belonging to his political opponents, and he has given the farms to his friends. His friends don't know much about farming. The courts in Turan have ruled that the seizures are illegal, but the dictator has ignored the rulings.

b) The dictator of a certain country requires that companies planning to open or expand must pay a large fee to file an application one year prior to plans to build new factories or expand existing ones.

c) Suppose that a new government is elected in Tempestia. The new government takes steps toward improving the court system and reducing government corruption. The citizens of Tempestia find these efforts credible and outsiders believe these changes will be effective and long lasting.

d) The President of a developing country proposes that his country needs to help domestic firms by imposing trade restrictions.

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What impact do you think the following events will have on long run economic growth? Why?

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