The "Washington Consensus" Outlined What Developing Countries Needed to Do

question 84

Multiple Choice

The "Washington Consensus" outlined what developing countries needed to do in order to succeed in terms of growth and development. This included:

• A) balance government budgets and keep inflation as low as possible
• B) privatize all state enterprises, assets, and public services
• C) deregulate all aspects of the economy such as contracting, labour, finance, and banking
• D) liberalize international trade
• E) All of the above

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Definitions:

Visionary Leadership

Leadership style characterized by a clear vision for the future, inspiring and motivating others towards achieving long-term goals.

Serving Others

The act of helping or doing work for people as a primary focus or purpose.

Expert Power

The capacity to influence others because of specialized knowledge.

Technical Areas

Specific fields or sectors focused on scientific, engineering, or technological disciplines.