The austerity measures taken to address the 2008 financial crisis were counterproductive. Some also argue that they led to which of the following?
A)populism and nationalism
B)undermining of the dollar as reserve currency
C)return to fixed exchange rate
D)return of multipolarity

Question

Quizplus · Accepted Answer

Austerity measures, by reducing government spending and increasing taxes, can lead to public discontent. This discontent can fuel the rise of populism and nationalism as people look for alternatives to the status quo, blaming economic hardships on external factors or elites.

The Austerity Measures Taken to Address the 2008 Financial Crisis