Unit 3 Flashcards
GDP is also known as
Gross domestic product
What does NAFTA stand for?
NORTH AMERICAN FREE TRADE AGREEMENT
Why was the EU created
To prevent further conflict mr between European countries
Who or what is Hayek
A person who does not like government involvement
What is Milton Friedman known for
Creating the theory of Monetarism
Free market economies are commonly associated in nature with
Right wing political playforms
Who wanted more gov control in the economy
John Maynard keynes
CIDA
Canadian international development agency
What country is not apart of the G8
China
Breton woods agreement
Establish a monetary and exchange rate system
What does the WTO do
Deals with the rules of trade between nations
Con of deregulation
Unsafe working conditions
GATT
Uses tariffs on domestic products
Trade liberalization
System that does not use tariffs
What is the crown corporation controlled by?
The government
