48) Following the global financial crisis in 2008-2009, the economy of Greece fell apart and has struggled to regain strength. What is one reason for the demise of the Greek economy? A) Closing borders to trade in 2008 B) New trade agreement with the United States C) A lack of entrepreneurial spirit D) Adoption of the euro in 2001 E) A dynamic trade program with France 49) All International Monetary Fund (IMF) loan packages come with conditions attached which limits A) Trade liberalization. B) Elimination of restrictive import licensing. Answer: C) Excessive government spending and debt. D) Privatization of state-owned assets. E) Deregulation of the economy to increase competition. Answer: 50) The International Monetary Fund has been criticized for A) Its lack of a "one-size-fits-all" approach to macroeconomic policy B) Encouraging moral hazard among banks. C) Its lack of power and authority. D) Using external experts to gain knowledge about a country. E) Keeping its operations open to outside scrutiny Answer: