(I) Countries with more economic freedom during the past quarter of a century had a lower average per capita GDP.(II) Countries with more economic freedom during the past quarter of a century generally achieved higher rates of economic growth. Question 40 options:

I. False

II. True

Explanation:

Economic freedom refers to the human right to own and control private property and decide how your labor should be used. When Economic freedom exists, people are able to contribute freely to the economy in a way that they prefer in a stable environment that supports their ventures.

Evidence has shown that in countries where people have the liberty to engage in business as they see fit, the Economies grew faster and had a higher average GDP per capita than countries that did not.

This is why developed countries (usually have higher economic freedom) are better off than a lot of developing countries where several factors such as corruption hinder economic freedom.

credit history is used by lenders to determine whether you are a 'risky' person to give their money to.

having a short history provide very little data for the lenders. they wouldn't be able to determine your credit behavior from such a small samples. even if they are perfect.

having long credit history with few blemishes provide larger and more accurate data for the lenders to predict your credit behavior.

answer: true

step-by-step explanation: