ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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high taxes
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loosening regulations
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UK has a higher level
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lot of regulations
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lower in Europe
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Detailed explanation-1: -When governments substitute taxes, government expenditures, and regulations for personal choice, voluntary exchange, and market coordination, they reduce economic freedom. Restrictions that limit entry into occupations and business activities also reduce economic freedom.
Detailed explanation-2: -Country Rankings of Economic Freedom 2, 2022, Singapore, with its extremely low tax rates, minimal regulations on businesses, and highly capitalist system of economics, ranks first, being 84.4. % economically free. 1 Switzerland ranks a close second at 84.2% free, followed by Ireland at 82.0%.
Detailed explanation-3: -The EU has delivered more than half a century of peace, stability and prosperity, helped raise living standards and launched a single European currency: the euro. More than 340 million EU citizens in 19 countries now use it as their currency and enjoy its benefits.