What do the export-led and import-substitution models have in common?
a. Both involve deregulation and privatization
b. Both rely largely on foreign direct investment
c. Both recommend using targeted protectionism
d. Both focus on reducing government expenditures
Question 2
Which global decision directly led to the Latin American debt crisis in the early 1980s?
a. The U.S. government dramatically raised interest rates.
b. The Chinese government began liberalizing its economic regulations.
c. The Brazilian government abandoned its import-substitution industrialization strategy.
d. The Venezuelan government began exploiting the country's oil resources more effectively.
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