What Was a Consequence of Milton Friedman's Market Principles for the Global

question 32

Multiple Choice

What was a consequence of Milton Friedman's market principles for the Global South?

• A) Because of these principles,markets in these economies saw unprecedented growth.
• B) The gap between the rich and the poor in the developing world decreased significantly.
• C) Major capital projects commenced,such as the building of dams for hydroelectric power.
• D) Interest on loans made to these countries soared beyond their ability to pay.

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Definitions:

Efficiently

Efficiency in an economic context signifies achieving maximum productivity with minimum wasted effort or expense.

Marginal Cost

Is the increase in total cost that arises from producing one additional unit of a good or service.

Ruthlessly Efficient

Operating with extreme efficiency, often at the expense of other considerations such as employee welfare or ethical considerations.

Recognizable Brand Name

A brand name that is widely known among the public and is easily recalled or recognized due to its reputation or marketing.