Through the World Bank,powerful nations prescribe that developing nations should open up,allowing more imports in and exporting more commodities.This is heralded as a form of economic restructuring and an avenue for debt repayment.Which of the following is a consequence of such measures?
A) employment and education
B) reduced incomes and more poverty
C) declining prices
D) increased living standards and less dependency

Question

Quizplus · Accepted Answer

Opening up to more imports and exporting more commodities often leads to reduced prices for locally produced goods, which can drive down incomes for local workers and small businesses. This may lead to a rise in poverty in the short term, though in the long term it may lead to increased competitiveness and economic growth. However, it is important to note that the effects of such measures can vary widely depending on specific circumstances and implementation.

Through the World Bank,powerful Nations Prescribe That Developing Nations Should