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In 1999, Vilosia, a country in South America, experienced a severe, sustained period of economic contraction. This scenario is an example of _____.
A) deregulation
B) subsidization
C) a depression
D) a monopoly
Depression
A severe, sustained period of economic contraction in one or more economies.
Deregulation
The reduction or elimination of government power in a particular industry, usually with the goal of increasing competition and efficiency.
Subsidization
Subsidization involves financial assistance provided by a government or organization to support businesses, industries, or individuals, often to stimulate economic activity or promote policy goals.
- Recognize the metrics employed to evaluate a nation's economic success.
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Learning Objectives
- Recognize the metrics employed to evaluate a nation's economic success.
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