Question

What should poor countries tackle as a prequisite for social economic development to take off

Answer 1

Answer:

Lower interest rates – reduce the cost of borrowing and increase consumer spending and investment.

Increased real wages – if nominal wages grow above inflation then consumers have more disposable to spend.

Higher global growth – leading to increased export spending.

Explanation:

critical domestic issues:

Industrialisation.

Agriculture.

Income distribution and poverty.

Population growth and demographic change.