The systems of different countries.

Question

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Answer 1

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

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Answer 2

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

Answer 6

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.

Economics Concept Introduction

Concept introduction:

Economic growth:

Aneconomy is said to be growing when there is an increase in the production of goods and services per individual, over a time period.

Answer 7

Chapter 4, Problem 1DQ

To determine

The systems of different countries.

Answer 8

Expert Solution & Answer

Explanation of Solution

The different legal systems in different countries are as follows:

Common Law Nations	Civil Law Nations
Australia	Sweden
Canada	Egypt
India	France
New Zealand	Greece
Israel	Italy
United Kingdom	Mexico
United States	Brazil
Table (1)

There is a limited role of the government in the common law system. But in civil law system, the main focus is on a strong centralized government. For economic growth, the common law system is more favorable. But it cannot be said that only common law countries are prosperous and civil law countries are not. Suppose, for example some of the European countries follow the system of civil law and are developed countries as well.

An additional factor that determines the economic growth of a country is its political stability. Political stability is a prerequisite for economic growth as it brings certainty regarding the economic policies of the government.

The rule of law is an important factor responsible for the economic growth in a country, irrespective of the common law or civil law followed in that country. If the laws are not implemented properly,then it will adversely affect the economic growth of the country.