The following statements are correct regarding the effects of political corruption in the Mexico, Central America, and Caribbean region, EXCEPT: Corruption is an aggravating challenge to formal economies in many countries in the region. Corruption raises the costs and risks associated with doing business in most countries in the region. Bribery is a mild form of corruption and it is an accepted form of doing business in most countries in the region. Corruption creates an unfavorable business environment by undermining the operational efficiency of firms. Corruption in politics affects every aspect of governance and undermines democracy