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Which statements are true about the Hungarian economy?

1) State-owned hotels in Hungary have been privatized
2) Hungary is part of the Group of Seven (G7) economies
3) Western firms have been entering into joint ventures with local firms in Hungary
4) The Hungarian economy was the only economy in the European Union (EU) to continue to grow during the global recession of 2008-2009

User Nitzien
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1 Answer

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Final answer:

The true statements about the Hungarian economy are 1) State-owned hotels in Hungary have been privatized, 3) Western firms have been entering into joint ventures with local firms in Hungary, and 4) The Hungarian economy was the only economy in the European Union (EU) to continue to grow during the global recession of 2008-2009

Step-by-step explanation:

After the Communist period, Hungary underwent economic reforms which included privatizing state-owned hotels. This was part of the country's transition to a market-oriented economy. As Hungary opened up to foreign investment, many Western firms saw opportunities in the country's growing market and formed joint ventures with local firms.

The Hungarian economy was the only economy in the European Union (EU) to continue to grow during the global recession of 2008-2009. Despite the global recession, Hungary's stable government and large-scale manufacturing helped it sustain economic growth while other EU countries faced contraction.

Overall, these factors highlight Hungary's transition from a communist economy to a market-oriented one, as well as its resilience during a global economic downturn. The corrrect answer are 1) State-owned hotels in Hungary have been privatized, 3) Western firms have been entering into joint ventures with local firms in Hungary, and 4) The Hungarian economy was the only economy in the European Union (EU) to continue to grow during the global recession of 2008-2009

User Troy Weber
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