The global recession that started in 2008 has had the following economic impact on the Mexican economy.
a. Currency depreciation has driven Mexico to the brink of default and required a 2009 bailout from theInternational Monetary Fund.
b. A housing crisis occurred in Mexico that cost millions their savings and helped drive the country into a deeprecession.
c. The price of oil has dropped sharply on the world market, costing PEMEX loss of profits.
d. Large numbers of Mexicans have returned from the United States putting pressure on domesticlabor markets.
e. Mexico has been one of the few countries able to economically thrive during the recession due to a diversifiedeconomy.
Question 2
Many Mexicans speak of the idea that the United States is always watching, something the textbook refers to as ___________.
a. paranoid psychology
b. observant awareness
c. dependent psychology
d. heightened scrutiny
e. observational psychosis
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
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