What Are the Three Main Lessons on Crisis Learned from Early

question 7

Multiple Choice

What are the three main lessons on crisis learned from early developing countries in Latin America?

• A) choosing the right exchange rate regime, the importance of contagion and the importance of the banking system
• B) choosing the right real rate, the importance of following exchange rates, and keeping prices high to make the most profit
• C) pegging exchange rates with Euros, keeping labor cost and wages low
• D) maintaining money supply, avoiding tariffs, and increasing output
• E) maintaining money supply, avoiding inflation, and increasing production

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Definitions:

McDonaldization

The process by which the principles of fast food restaurants, such as efficiency, calculability, predictability, and control, increasingly shape sectors of society and everyday life.

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Institutions of higher learning that provide undergraduate, graduate, and sometimes professional degrees.

Post-Secondary Institution

An educational establishment that provides learning experiences after completion of high school, such as colleges and universities.

Pierre Bourdieu

A French sociologist and anthropologist known for his theories on social capital, cultural capital, habitus, and the social structures of domination and power.