Question

The relative success with which the Brazilian economy faced the rapid deterioration of the external framework between 2008 and 2009 cannot be explained only by the good macroeconomic indicators that the country boasted at the beginning of the crisis. Good indicators were certainly important. International reserves of around US $ 200 billion and a solid financial system made a big difference. And the competent action of the Central Bank and certain initial tax stimulation measures were important. But much of the resistance that the economy showed the destabilizing shock of the crisis has another explanation: the huge reduction in uncertainty that I warned of the consolidation of the framework of rules and institutions that guided the conduct of economic policy in the country, especially after it was clear that such Arcouço had survived without any damage to the difficult rite of passage from the 2002-2003 political transition.

ABREU, M. P. The order of progress: two centuries of economic policy in Brazil. 2 to ed. Rio de Janeiro, Elsevier/Campus. 2014.




Considering the excerpt above and based on your knowledge about the second Lula government, interpret the following statements:



I. The Central Bank, acted correctly during the period of the world crisis.


II. The expectations of economic agents guaranteed the solidity of the Brazilian economy during this period.


III. Financial reserves won before the world crisis positively influenced Brazil as to the crisis of this period.


IV. The framework to which the text refers is the Lula government's commitment to the content of the letter to the people, that is, to guarantee coherent economic policies.



What is stated in:


Alternatives

Alternative 1:

I only.


Alternative 2:

II and IV, only.


Alternative 3:

III and IV, only.


Alternative 4:

I, II and III, only.


Alternative 5:

I, II, III and IV.

Answer 1

The passage discusses the relative success of the Brazilian economy in facing the challenges of the global economic crisis between 2008 and 2009. It emphasizes that the resilience of the Brazilian economy during this period cannot be solely attributed to good macroeconomic indicators, such as international reserves and a strong financial system. Instead, it points to another important factor: the reduction in uncertainty resulting from the consolidation of rules and institutions guiding economic policy in the country. This reduction in uncertainty was seen as crucial for Brazil's ability to withstand the destabilizing impact of the global economic crisis, and it had been established over time, including during the political transition of 2002-2003.

In essence, the passage highlights the importance of stable economic policies and institutions in helping Brazil navigate a challenging economic environment.

Step-by-step explanation: