A developing country in debt to the World Bank was offered financial assistance to alleviate the economic crisis if it would abide by certain conditions.The conditions were privatizing state-controlled services,importing goods from developed countries,and ending tariffs protecting local businesses.Which kind of economic theorizing supports this approach to development?
A) Marxist
B) neoliberal
C) postmodernist
D) Keynesian

Question

Quizplus · Accepted Answer

The conditions stated in the scenario align with neoliberal economic theory, which advocates for free trade, privatization, and minimal government intervention in the economy. The World Bank is known for promoting neoliberal policies as a path to development in developing countries.

A Developing Country in Debt to the World Bank Was