Neoliberalism (or laissez-faire economics) is characterised by __________________.
A) minimal state intervention in the economy
B) an increase in the size and scope of the welfare state
C) collective initiatives guided by market-determined prices that naturally balanced demand and supply for all goods and services
D) development through state-led initiatives
E) cross-cultural economic development through loans and aid
Correct Answer:
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Q26: Sometimes developing countries that export simple commodities
Q27: When commodity exports suffer from highly variable
Q28: The premise of import substitution industrialization (ISI)
Q29: Import substitution industrialization (ISI) did not work
Q30: By the 1970s, it was clear that
Q32: Under neoliberal philosophy, foreign investment required developing
Q33: The "Washington Consensus" outlined what developing countries
Q34: The initial group of Asian economies that
Q35: The metaphor of the "flying geese formation"
Q36: Ronald Coase departed from the neoclassical tradition
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