The reform movements that began in many Latin American economies in the late 1980s favored
A) competitive devaluations.
B) stronger military budgets.
C) imports substitution policies.
D) a stronger role for markets and more openness.
Question 2
External debt is not usually a problem for high-income countries for which of the following reasons?
A) High-income countries take out loans denominated in their own currency.
B) High-income countries do not need to borrow.
C) High-income countries are too large to default on loans.
D) High-income countries use loans to build infrastructure and create economic growth.
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