Which of the Following Might Be a Washington Consensus Policy

question 28

Multiple Choice

Which of the following might be a Washington Consensus policy recommendation to a less developed country that would be opposed by a supporter of import substitution policy?

• A)creating state-owned businesses
• B)investing heavily in domestic agriculture
• C)raising tariffs to reduce foreign imports
• D)reducing state power
• E)promoting private domestic industry

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Definitions:

Italian Renaissance

A period of great cultural change and achievement in Italy that began in the 14th century, characterized by advancements in art, architecture, literature, and science.

Idealism

A philosophical approach asserting that reality, or reality as we can know it, is fundamentally mental, mentally constructed, or otherwise immaterial.

Realism

An artistic, literary, and intellectual movement that rejects idealization, focusing on depicting subjects as they are perceived in everyday life.

Religious Order

An organization of individuals who live under religious vows and dedicate their lives to spiritual goals, following a specific set of rules.