What Encouraged PRI Leaders to Reverse ISI and Adopt Free-Market

question 18

Multiple Choice

What encouraged PRI leaders to reverse ISI and adopt free-market policies in the 1980s?

• A) desire to enact land reform
• B) Mexico's serious debt crisis
• C) dramatic rise in oil prices
• D) declining levels of inequality

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Definitions:

Specific Performance

A legal remedy that compels a party to execute a contract according to the precise terms agreed upon, rather than awarding damages for breach.

Punitive Damages

Financial compensation awarded to a plaintiff in a lawsuit, intended to punish the defendant for particularly harmful behavior.

Novation

Novation is the legal process by which an existing contract is replaced with a new contract, involving the same or different parties, where the obligations of the original contract are extinguished and replaced by new obligations.

Exemption Clause

A contractual provision that seeks to limit or exclude one's liability in certain situations, often subject to legal scrutiny for fairness.