Question

Which of the following correctly matches each measure of the New Economic Policy with its time frame?

Options

• Both stabilisation measures and structural reforms — long-term

• Both stabilisation measures and structural reforms — short-term

• Stabilisation measures — short-term; Structural reforms — long-term

• Stabilisation measures — long-term; Structural reforms — short-term

Answer 1

The NEP's two-pronged package paired stabilisation measures with a short-term time frame (to correct the BoP crisis and control inflation) and structural reforms with a long-term time frame (to improve efficiency and competitiveness).