The main lessons of the study of international macroeconomics are that:
A) there is a consensus regarding the best policies to follow.
B) poor countries will become rich if they just adopt the institutions of the rich countries.
C) financial openness will quickly lead to economic growth.
D) the best policies to follow depend on the institutional structure of a country and the specific situation.

Question

Quizplus · Accepted Answer

The study of international macroeconomics shows that there is no consensus on the best policies to follow, and that simply adopting the institutions of rich countries may not result in economic growth for poor countries. Instead, the best policies to follow depend on the institutional structure of a country and the specific situation. Financial openness can be beneficial, but it may not always lead to rapid economic growth. Therefore, option D is the only correct answer.

The Main Lessons of the Study of International Macroeconomics Are