The Washington Consensus is:

a set of guidelines to be followed for war

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a group of people who get together to discuss issues related to development of the United States

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a set of norms to regulate prices of export services

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a set of economic reforms to be followed by developing countries

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Solution

The correct option is D
a set of economic reforms to be followed by developing countries

The Washington Consensus is a set of economic reforms to be followed by developing countries in order to avoid economic and financial crises.

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Similar questions

A ___ is referred to a group of people living together governed by a common set of rules and regulations.

Choose the most appropriate option.

(i) The past two decades of globalisation has seen rapid movements in

(a) goods, services and people between countries.

(b) goods, services and investments between countries.

(ii) The most common route for investments by MNCs in countries around the world is to

(a) set up new factories.

(b) buy existing local companies.

(iii) Globalisation has led to improvement in living conditions

(a) of all the people

(b) of people in the developed countries

(d) none of the above

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