Which of the following might be a Washington Consensus policy recommendation to a less developed country that would be opposed by a supporter of import substitution policy?
A)creating state-owned businesses
B)investing heavily in domestic agriculture
C)raising tariffs to reduce foreign imports
D)reducing state power
E)promoting private domestic industry

Question

Quizplus · Accepted Answer

Reducing state power is a recommendation of the Washington Consensus that would likely be opposed by a supporter of import substitution policy, as import substitution often involves significant government intervention in the economy to protect and promote domestic industries.

Which of the Following Might Be a Washington Consensus Policy