The Liberal Approach to Economic Development That Prioritizes Privatization,liberalization of Trade

question 27

Multiple Choice

The liberal approach to economic development that prioritizes privatization,liberalization of trade and foreign direct investment,government deregulation in favor of open competition,and broad tax reform is known as ________.

• A) the development gap
• B) sustainable development
• C) the Washington Consensus
• D) the Beijing Consensus

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.