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Economics

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Rafaela Morissette

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2y ago
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Cards in this guide (16)
What do capital controls prevent

Speculators from rushing into and out of a country's market and disrupting its economy./

Foreign aid is intended to result in what

Foreign aid is intended to result in development.

What is the main purpose of the loans made by the World Bank

To help countries achieve sustainable development

Globalization creates greater what

Interconnections among the people and economies of the world

During the period of colonization developed countries did what

Extracted resources from their colonies

Politicians approve pork barrel spending for what purpose

To win political support

The government can prevent the shortages that accompany price ceilings by doing what

Rationing

Increasing specialization within the global economy depends on what

International Trade

How might a country respond to a trade embargo

It could pursue a policy of national self-sufficiency.

Why does the IMF require countries to accept economic policy recommendations along with the loans it gives

The IMF wants to fix the economies of countries that need its help.

When might a country specialize in producing a particular good

When a country has an absolute advantage in production of that good it may specialize in producing that good.

Tariffs differ from taxes because tariffs are what

Only collected on imported goods

Which of the following does not promote increased international trade and economic growth

Type your answer here... High tariffs

If developing countries have weak domestic industries they do not benefit from what

Free-trade policies

How were slaves affected by the new republic

Some northern states made slavery against the law.

What is an example of a labor law in economics

A restriction on when a union may call a strike

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