Proponents of expansionary austerity cite the experience of _____ since 2005 as evidence of its effectiveness.
A)Japan
B)China
C)the United States
D)Latvia

Question

Quizplus · Accepted Answer

Proponents of expansionary austerity often point to Latvia since 2005 as evidence of its effectiveness. After the global financial crisis, Latvia implemented a series of austerity measures, which led to a short-term economic contraction but ultimately resulted in strong economic growth and a reduction in debt-to-GDP ratio. However, many critics argue that the unique circumstances of Latvia, such as its currency peg to the euro and small size, make it an outlier and not a reliable model for other countries to follow.

Proponents of Expansionary Austerity Cite the Experience of _____ Since