The Immediate and Total Deregulation of Prices, Liberalization of Trade

question 96

Multiple Choice

The immediate and total deregulation of prices, liberalization of trade, privatization, and development of financial institutions represent

• A) the gradualism transition approach from socialism to a market economy.
• B) a cooperative socialist model.
• C) the shock therapy transition approach from socialism to a market economy.
• D) an authoritarian socialist model.

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Definitions:

Chapter 13

A form of U.S. bankruptcy allowing individuals earning regular income to develop a plan to repay all or part of their debts over time.

Debtor

A party that has a financial obligation or debt to another party, referred to as the creditor, within a commercial transaction.

Automatic Stay

A legal provision that halts proceedings and lawsuits against a debtor immediately upon the filing of a bankruptcy petition.

Chapter 7

A provision of the United States Bankruptcy Code dealing with asset liquidation for the debtor to pay off creditors.