social quiz unit 3

Question 1

nationalism

Answer 1

Nations prioritising their own self interest)

Question 2

Bretton woods agreement

Answer 2

contries met to discuss post war econmic order, promoted internation trade and fixed the exchange rate.

Question 3

World Bank

Answer 3

long term financial assistance in the form of loans and grants, improves infastructures, poverty, edu. healthcare

Question 4

IMF

Answer 4

Organisation of 189 countries that work to bring stability to world trade.
Short term financial assistance for countries

Question 5

WB crits

Answer 5

-conflict/war
-not suitable for countries that are experiencing dictatorship
-money might get into wrong hands

Question 6

Imf crits

Answer 6

Critics argue that the IMF’s austerity measures hurt social programs like education and healthcare, while also supporting corrupt regimes that align with Western interests. They also claim that the IMF is mainly controlled by the U.S. and other Western nations, prioritizing their own corporate and political interests over helping poor countries.

Question 7

Keynes

Answer 7

Government should play a large role in regulating economy. Direct government intervention is necessary

Question 8

Hayek

Answer 8

thought that government should Stay out of the economy. Free market

Question 9

Friedman

Answer 9

government intervention should stay out of the economy but a little would be necessary to provide efficiency in the economy.

Question 10

monetarism

Answer 10

focuses on managing the money supply to keep inflation in check and the economy stable, believing that too much money leads to rising prices, while too little can slow growth. It’s all about finding the right balance to keep things running smoothly.