Dolla Dolla Bills | Can't Do It By Yourself | People & Groups | It's Just Business | Concepts/Terms |
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What is the Bretton Woods Agreement?
A treaty created after WWII in the woods that established rules for a postwar economy
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What is the World Trade Organization or WTO?
International organization that works to improve trade relations, removing tariffs and other barriers to trade
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Who is John Maynard Keynes?
This individual felt the government should manage the economy with fixed exchange rates
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What is outsourcing?
Hiring of one company by another to fulfill production tasks usually in another country using cheap labour
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What are Crown Corporations?
In Canada, these companies are owned by the government (or the Queen)
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What is the World Bank or WB?
Part of the UN that provides loans to less developed countries experiencing financial troubles
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What is CIDA or Canadian International Development Agency?
Canadian government agency that gives foreign aid to less developed countries
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Who is Friedrich Hayek?
This Individual believed less government meant greater economic prosperity and freedom
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What is Free Market Economy?
An economic system in which the government does not intervene
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What is Economic Nationalism?
Type of nationalism that is concerned about the impact of foreign investment on a country’s independence and identity
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What is the IMF or International Monetary Fund?
Deals with international monetary affairs and helping expand world trade; they also monitor exchange rates
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What is the Group of 8 or G8?
The eight major industrial democracies that discuss economic and foreign policies
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Who is Milton Friedman?
He maintained there is a link between inflation and the money supply, mainly that inflation is to be regulated by controlling the amount of money poured into the national economy
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What is Trade Liberalization?
A process that involves reducing or removing trade barriers so goods and services can move around the world more “liberally”
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What is Sustainability?
The degree to which Earth is able to provide the natural resources necessary to meet peoples’ needs
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What is the International Monetary System?
Global network of institutions that the IMF and WB make up
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What is the World Health Organization or WHO?
A specialized agency of the United Nations (UN) that is concerned with international public health
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What is the European Union or EU?
World’s largest & most powerful common market with common foreign & security policies, and address common issues all faced by the membership
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What is Free Trade Agreement?
1989 agreement between the USA and Canada to eliminate trade barriers
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What is Economic Globalization?
Type of globalization involving trade, transportation, communication and the spread of commerce around the world
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What is NAFTA or North America Free Trade Agreement?
A trade agreement between Canada, the USA and Mexico
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What are TNCs or Transnational Corporations?
Companies that operate in two or more countries
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What is the Kyoto Protocol?
International agreement intended to reduce greenhouse gases in order to combat climate change
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What is Agribusiness?
Large-scale agricultural businesses like factory farms or feedlots
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What are HIPCs or Heavily Indebted Poor Countries
A group of developing countries with high levels of poverty and debt and are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank
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