To reduce poverty by lending money to developing countries
100
What is the round called currently in the WTO
Doha round
100
What does a multilateral trade agreement mean?
A trade agreement with more than 2 countries
100
Curled swayed activation
World Trade Organisation
200
What is the method called to measure inflation?
Consumer Price Index (CPI)
200
What is the purpose of the IMF?
To oversee and help financially to countries that need money
200
What is the goal of the WTO?
Is the main organization promoting trade among nations and resolve trade disputes between countries
200
WHy does NAFTA works so well?
Canada - Land, USA - Capital, Mexico - Labour
200
perfectionism
Protectionism
300
Name 3 things measured in a basket of goods
Transportation, shelter, clothing, gas, education, health, entertainment
300
where does the World Bank receive its money?
from participating governments
300
What is considered as a developing country?
Lack of good roads
Lack of standards of rich markets
Lack of negotiation
300
What is protectionism
The country puts on taxes, tariffs and restrictions to reduce foreign products
300
Aloha bound
Doha round
400
If in 2011 inflation is 2.3% and 2012 inflation is 1.9%, what are happening to prices in 2012?
They are still increasing but going at a slower rate.
400
What does surveillance mean in regards to the IMF?
Lets country know of trends either upwards or downwards
400
What are the 5 principles of the WTO?
Non Discrimination,
Freer Trade Through Negotiation,
Predictability (transparency),
Promoting Fair Competition,
Encouraging Development
400
** Daily Double**
Explain why regional trade agreements have developed as a trend these days as opposed to the WTO?
400
Enveloping Crunchy
Developing country
500
What is the difference between stagflation and hyperinflation?
Stagflation occurs when prices are rising even while the economy is stagnating whereas hyperinflation occurs when inflation is growing too rapidly that is uncontrollable
500
What are 2 criticisms to the IMF?
1. Loans lead to crippling debt
2. IMF loans divert funds away from social spending
500
Why has the processed slowed recently with the rounds of the WTO
With the number of countries growing within the organization, it is harder to have a consensus with an agreement because countries have different goals
500
Give 2 positives and 2 negatives of Regional trade agreements
Positives 1. RTA allow for faster liberalization of trade 2. Countries will naturally trade with their neighbours 3.RTA Pave the way for larger multinational liberalization at the WTO
Negatives 1. RTA create regionalism 2.RTAs result in Trade Substitution 3. Lessens the importance of the WTO