ADMS 1010 Final: Exam Review
22 Apr 2012
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Document Summary
Mercantilism- government regulates foreign trade to increase wealth & security. National policy- created by john a macdonald, for high tariff on imported manufacturer items to protect manufacturing industries (settlement of west, build railway, protection tariff) Reciprocity treaty- between british north america & united states, for free trade (mutual list of goods that they trade btwn them tariff free) Protective tariff- american companies built factory/plants in canada to avoid tariffs. Stern model of national growth- federal govn created protectionist barriers for cdn industries. Demand- drive innovation within industry, global trends. Related & supportive industries (suppliers)- local supporting industries are competitive. Bank act 1871- ensures all banks are registered by federal govn. Sound currency (stable): measure to gold standards (relate money into value of gold) Francis hincks- proposal was accepted because was very involve in wanting bank of montreal to win. Bank act revision- every 10 years prove everything was legal and correct. Exchange rates- multiple currencies, depending on who sets currencies.
