Econ Pre-Test 1c
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| show | Is important when political boundaries are important
*political boundaries: boundary is established in a legal form, usually a treaty or other written document ***not land boundary**
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| What is GDP? | show 🗑
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| What is a trade deficit? | show 🗑
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| show | Location of a boundary is established in a legal form; usually a treaty or other written document
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| show | a country’s ability to produce a given product relatively more efficiently/better than another country by doing it at a lower opportunity cost
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| what is "Free Trade"? | show 🗑
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| Interdependence | show 🗑
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| World Bank | show 🗑
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| IBRD (Int'l Bank for Reconstruction) | show 🗑
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| IMF (Int'l Monetary Fund) | show 🗑
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| show | -offers political risk insurance and credit guaranty
-help investors protect their foreign investments against political risks in developing countries
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| what is an open border? | show 🗑
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| GNP | show 🗑
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| open border | show 🗑
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| show | European Union
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| show | -Worst period of economic decline
-unemployment, stock market decline.
-30% unemployment rate
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| show | War time WWII spending or Deficit spending
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| show | - currency exports are more expensive
-imports are more expensive
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| show | member of the World Bank;
-facilitate the flow of foreign direct investment
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| show | for monetary and exchange rate management established in 1944
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| show | IMF and IBRD
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| Who belongs to the World Bank? | show 🗑
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| ICSID - (International Center for Resolution of Investment Disputes) | show 🗑
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| show | -goods were rationed, couldn't consume much
-we had massive deficit spending (lots of spending which took us out of the depression)
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| The global economy in the 1890's | show 🗑
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Created by:
Sankofarae
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