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Economics: A Contemporary Introduction
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Chapter 19 / Exercise 04
Economics: A Contemporary Introduction
McEachern
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Chapter 40 Text AssignmentThe Cold War Begins, 1945-19521.)Taft-Hartley Act (1947)-Federal legislation that amended the National Labor Relations Act of 1935 to include a definition of unfair labor practices, grant individual employees the right to sue union or company officials for unfair labor practices, restrict closed shops and prohibit secondary boycotts2.)Employment Act (1946)-Its main purpose was to lay the responsibility of economic stability onto the federal government3.)Servicemen’s Readjustment Act (1944- GI Bill)-was an omnibus billthat provided college or vocational education for returning World War IIveterans(commonly referred to as G.I.s) as well as one year of unemployment compensation. It also provided many different types of loans for returning veterans to buy homes and start businesses4.)Veterans’ Administration-is a government-run military veteranbenefit system with Cabinet-level status. It is the United States government’s second largest department, after the United States Department of Defense.[1]With a total 2009 budget of about $87.6 billion, VA employs nearly 280,000 people at hundreds of Veterans Affairs medical facilities, clinics, and benefits offices and is responsible for administering programs of veterans’ benefits for veterans, their families, and survivors5.)Sunbelt-states in the south and southwest that have a warm climate and tend to be politically conservative6.)Rustbelt-urban areas in New England and Midwest characterized by concentrations of declining industries7.)Yalta Conference (February 1945-A Conference which included the Allied Powers, with Franklin Roosevelt, Stalin and DeGaulle, to determine the boundaries and 'spoil' at the end of WWII8.)International Monetary Fund (IMF)-is the international organizationthat oversees the global financial systemby following the macroeconomic policiesof its member countries, in particular those with an impact on exchange rateand the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development. It also offers highly leveraged loans, mainly to poorer countries9.)International Bank for Reconstruction and Development (World Bank)-a United Nations agency created to assist developing nations by loans guaranteed by member governments10.)Security Council-The executive body of the United Nations, charged with the duty of preventing or stopping wars by diplomatic, economic or military action11.)Assembly-is one of the five principal organs of the United Nationsand the only one in which all member nations have equal representation. Its powers are to oversee the budget of the United Nationsappoint the non-permanent members to the Security Council, receive reports from other parts of the United Nationsand make recommendations in the form of General Assembly Resolutions12.)Containment Doctrine-Since British assistance to Turkey had ended in 1947, the U.S. dispatched military aid to ensure that Turkey would retain chief control of the passage. The aircraft carrier
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Economics: A Contemporary Introduction
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Chapter 19 / Exercise 04
Economics: A Contemporary Introduction
McEachern
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