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☆☆☆☆☆The world bank lends money to memeber nation so that they could be carry out the work of public importance and usefulness.
it increases the tax as income rises
Foreign aid is intended to result in development.
The acceptance of economic policy recommendations
To promote sustainable development
A decentralized set of central and private banks
Interconnections among the people and economies of the world
The colonizers used the resources of their colonies to grow their own economies.
To win political support
Rationing
The mobility of goods, services, labor, and capital
They maintain high tariffs on the agricultural goods that many developing countries export.
Disruptions in one place have effects else where.
It could pursue a policy of national self-sufficiency.
When a country has an absolute advantage in production of that good it may specialize in producing that good.
Type your answer here... High tariffs
The World Bank loans developing countries money in order to improve conditions in the country. It can be used for various purposes, including education, job development, and infrastructure.
Free-trade policies
Some northern states made slavery against the law.
Think that you're country A, wanting to buy pen and paper.
Country B produces 1 million pen and 1 BILLION paper
Country C produces 1 BILLION pen and 1 million paper
Or, country B has the absolute advantage over production of paper while
country C has the absolute advantage over production of pen.
Coming back our theory of economy of scale, we know that to a certain point, increased production would lead to lower average cost and thus, lower price.
This would mean that paper from country B is cheaper than country C whereas pen from country C is cheaper than country B.
Therefore, you would choose to trade paper with country B while trading pen with country C.
And this is why it is important to making economic choices.
Many developing countries do not benefit from free trade policies, because their industries are to weak to compete in the international market.
the level of wealth
A restriction on when a union may call a strike
Higher tax and tariff levels
