Term
| We want GDP To Be At What Percent Or Higher? |
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Definition
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Term
| What is the purpose of the Chamber of Commerce? |
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Definition
| To help expand the economy, by introducing and helping grow new businesses. |
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Term
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Definition
| The power of the dollar, it's ability to purchase the same item in the US as you do in another country. |
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Term
| What are the three phases of a flat world? |
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Definition
Country Lead
Company Lead
Individual Lead |
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Term
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Definition
| Importing more than you export |
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Term
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Definition
| Export more than you import |
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Term
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Definition
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Term
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Definition
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Term
| What are the Reasons For The EU to Come Into Being? |
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Definition
The EU started after World War II, initially as a series of trade agreements between six European countries geared to avoid yet another war on European soil.
At the most basic level, countries want to encourage the growth of their domestic businesses by expanding trade with other countries—primarily by promoting exports and encouraging investment in their nations. |
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Term
| What are the four reasons a country might have for borrowing money? |
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Definition
Recession
Investment
War
Politics |
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Term
| What Does The Acronym RIWP Stand For? |
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Definition
| The Four Reasons Why Countries Borrow Money |
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Term
| What are were the original reasons against joining the EU? |
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Definition
Fiscal independence and sovereignty.
Centuries-old political, economic, social, and cultural issues, biases, and differences. |
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Term
| What does GATT Stand For? |
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Definition
| General Agreement on Tariffs and Trade |
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Term
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Definition
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Term
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Definition
| GATT provision that requires member countries to automatically extend to all member countries the same benefits, usually tariff reductions, they agreed on with any other countries. |
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Term
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Definition
| A series of rule governing trade. |
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Term
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Definition
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Term
| What is the World Trade Organization? |
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Definition
Organization that succeeded GATT.
It is the only institutional body charged with facilitating free and fair trade between member nations. |
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Term
| When did the WTO succeed GATT? |
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Definition
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Term
| What is the current round of the WTO called? |
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Definition
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Term
| What are the four main types of regional economic integration? |
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Definition
Free Trade
Customs Union
Common Market
Economic Union |
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Term
| What is an example of a Free Trade Area? |
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Definition
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Term
| What is an example of a Customs Union? |
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Definition
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Term
| What is an Example of a Common Market? |
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Definition
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Term
| What is an Example of an Economic Union? |
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Definition
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Term
| What are the pros of creating regional agreements? |
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Definition
Trade Creation
Employment Opportunities
Consensus and Cooperation |
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Term
| What are the cons of creating regional agreements? |
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Definition
Trade Diversion
Employment Shifts and Reductions
Loss of National Sovereignty |
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Term
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Definition
| Goal was to encourage trade between countries in North America |
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