IR Chapter 6 - Key Terms.pdf

Ngo that provides practical support such as medical

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NGO that provides practical support, such as medical care, food, and latter from home, to civilians caught in war and prisoner of war. Chapter 8 - Key terms mercantilism- An economic theory and a political ideology opposed to free trade; it shares with realism the belief that each states much protect its own interest economic liberalism- In the context of IPE, an approach that generally shares the assumption anarchy but does not see this condition as precluding extensive cooperation to realize common gains free trade -The flow of goods and services across national boundaries unimpeded by tariffs or other restrictions; in principle balance of trade - the value of a state’s exports relative to its import comparative advantage -The principle that said states should specialize in trading goods that they produce with the greatest relative effeciency and at the lowesr relative cost autarky - A policy of self-relience protectionism -the protection of domestiv by trade tari and others mean dumping -selling at the price lower than production rate tariff- tax on import nontariff barriers -import protection other than tariff such as qouta World Trade Organization(WTO) - General Agreement on tariff and trade(GATT) most-favored nation(MFN) General system of Preferences(GSP) Uruguay Round Doha Round North American Free Trade Agreement(NAFTA) cartel
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Organization of Petroleum Exporting Countries(OPEC) Industrial policy intellectual property rights service sector industrialization centrally planned economy transitional economies states owned industries mixed economies Chapter 9 - Key Terms Gold standard exchange rate convertible currency hyperinflation hard currency reserves fixed exchange rates floating exchange rates managed float devaluation central back discount rate Bretton Wood system World Bank International Monetary Fund(IMF) Special Drawing Right(SDR) balance of payments Keynesian economics fiscal policy national dept multinational corporations (MNCs) foreign direct investment host country home country
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