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Which is true about entrepreneurship in relation to the GDP?

A. A country with fewer entrepreneurs is more likely to be productive.
B. The higher the gross domestic product, the least likely the government is open to entrepreneurs.
C. Countries that are not open to new businesses are more likely to have a higher GDP.
D. The more open to entrepreneurs, the more likely a country's economy will grow.

Answer :

The correct statement about the relationship between entrepreneurship and GDP is that a more entrepreneur-friendly environment likely leads to economic growth. So, the correct answer is option D. The more open to entrepreneurs, the more likely a country's economy will grow.

The true statement about entrepreneurship in relation to the GDP is: D. The more open to entrepreneurs, the more likely a country's economy will grow. This is because entrepreneurship increases innovation, competition, and productivity in the economy. When a government is supportive of entrepreneurs, it leads to a dynamic business environment, which can result in new job creation, higher levels of productivity, and ultimately an increased GDP. Moreover, when there is entrepreneurial activity, it often leads to capital investment and the development of new markets, both of which are critical for economic growth.

Countries that foster economic freedom tend to have higher income levels, and studies have shown that those which have improved their economic freedom rankings have also exhibited higher growth rates. Thus, entrepreneurship plays a crucial role in the economic development of a country, and a supportive legal and economic infrastructure is essential to facilitate this growth.

So, the correct answer is option D. The more open to entrepreneurs, the more likely a country's economy will grow.

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