Due to interdependence heightened by NAFTA, the Clinton administration responded to a sharp decline in the value of the Mexican peso by
a. drastically reducing foreign direct investment in Mexico.
b. pulling out of NAFTA.
c. shoring up the flagging peso with a multibillion-dollar aid package.
d. dumping its reserve currency holdings of Mexican pesos.
e. shielding itself from now competitive Mexican exports by imposing quotas on certain products.
Answer: c
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