34.3k views
2 votes
After the collapse of the Soviet Union, which steps did Russia, the former Soviet Republics, and East European nations take to attract foreign investment? Select all that apply.

discontinued free university tuition


banned independent labor unions


ended fixed low prices for basic goods and services


raised tariffs to protect manufacturers


Instituted guaranteed employment


privatized industries

User Josh Bedo
by
7.0k points

2 Answers

6 votes
raised tariffs to protect manufacturers
privatized industries
discontinued free university tuition
ended fixed low prices for basic goods and services
User Shayan
by
6.8k points
1 vote

With the raise to power of the young leader Mikhail Gorbachev, the already in decline Soviet Union (SU) saw his first attempt to leave its totalitarian approach. It came with the announcement of the Soviet economic reform Perestroika. But after the end of the SU Boris Yeltsin raise to power and implemented his economic plan known as "shock therapy" an abrupt shift to free-market societies.

discontinued free university tuition - True - As a result of the democratization and decentralization of the education, new schools, new ways of thinking were in taking in place and the free university tuition was abolished.

banned independent labor unions - False - With the openness of the economy, it became extinct the ban of independent labor unions.

ended fixed low prices for basic goods and services - True - One of the most inefficient aspects of the centralized government had to be abandoned to relief the economy.

raised tariffs to protect manufacturers - False - They had to reduce tariffs and control over the Russian and former SU republics in order to make them be profitable and independent.

Instituted guaranteed employment - False - The main goal was to reduce the power of the state and they would only achieve this by not guaranteeing employment.

privatized industries - True - They thought liberalization and privatization would create the economic reform they were looking for, opening the economy and driving capital to the country.

So, all correct are: discontinued free university tuition ; ended fixed low prices for basic goods and services; privatized industries

User Burmese Bug
by
6.4k points