PSC 124 Study Guide - Quiz Guide: Bretton Woods System, International Criminal Court, Millennium Development Goals
17 Feb 2018
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International political economy (ipe): the two-way relationship b/w int pol & int eco. Fiscal & monetary policies: the two major ways where gov"ts can influence their economies. In fiscal policy, a gov"t uses a budget deficit or surplus to stimulate or slow eco growth. In monetary policy, a central bank raises or lowers interest rates to stimulate or slow eco growth. Theory of comparative advantage: a theory developed by the english economist david ricardo to show logically how & why trade is beneficial to both partners. Zero-sum game: a situation where any gains by one side are offset by losses for another. Trans pacific partnership: a proposed agreement to reduce barriers to trade among twelve countries in n. and s. america, asia, & the pacific, including australia, canada, chile, japan, mexico, singapore, & the us.
