Raul Prebisch was an Argentine economist who argued that

Question

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Raul Prebisch is known for his theory of declining terms of trade, which argues that the prices of primary commodity exports tend to decline relative to the prices of manufactured goods over time, leading to a decline in the purchasing power of primary commodity exporters. Prebisch therefore advocated for import substitution policies as a means of promoting industrialization and reducing dependence on primary commodity exports. Option D correctly identifies both of Prebisch's key arguments.

Raul Prebisch Was an Argentine Economist Who Argued That