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35 questions
High consumption, high levels of education, health services, and social welfare nets.
Global South
Global North
Struggle with basic needs, poor educational and health services, no welfare nets.
Global South
Global North
The difference in development between countries; indicated in the Human Development Index.
Development Gap
BRICS
Development Trap
Colonialism and Industrialization
Constructivist focus the problem on:
Money
History
Markets
Ideas
Privatization of the economy>> reduction of governmental fiscal burden >>increase in spending in education and health
Washington Consensus
Beijing Consensus
Measure countries had to take during the 1980s, so the IMF would give out longer-term loans, including economic reforms, trade liberalization reforms, government reforms, private sector policies.
Sustainable Development Goals
Structural Adjustment Programs
Fiscal policy
Microfinance
Incorporates concern for renewable resources and the environment.
Sustainable Development
Economic reform
Washington Consensus
Beijing Consensus
Which region was most benefitted by the Heavily Indebted Poor Countries Initiative, pushed by the Jubilee 2000?
-Debt relief under the condition of submitting plans to channel debt savings into poverty-reduction programs-
Latin America
South East Asia
Eastern Europe
Africa
When did the World Bank discontinue structural performance criteria for loans in response to critics and a world wide crisis?
1929
1982
2009
2014
Which ideas became acceptable in the IMF after the 2008 recession?
States taking a proactive role in coordinating development.
Establishing a floating exchange rate.
Establishing a fixed exchange rate.
States letting market behavior mitigate international economy.
Besides the environment and renewable resources, sustainability must have an emphasis on:
Education
Exchange rates
Debt Mitigation
Health
Pillar for successful development
Monetary Policy
Strong political and economic institutions
Liberal Economic Policy
Nationalist Economic Policy
Thanks to who has the accountability and effectiveness of multilateral and bilateral donor programs improved?
MNCs
SDGs
WTO
NGOs
Money sent by foreign workers to individuals in a home country. This is greater in Africa than FDI.
Microloans / Microfinance
Remittances
MDGs
Direct cash transfers
Which is a measure that has proven to improve the individuals' finances (income and spending) when they already own a small business.
Microloans / Microfinance
Remittances
MDGs
Direct cash transfers
One of the newest ideas for alleviating poverty. Said to improve food consumption, improve psychological wee-being; recipients gain income and are able to expand productive assets.
Microloans / Microfinance
Remittances
MDGs
Direct cash transfers
Goals established in 2001 by the UN sponsored Millenium Summit, designed to reduce poverty by 2015.
MDGs
MNCs
FDI
SDGs
New goals set after the timeframe for the ones from the Millenium Summit was over. These new goals set in 2015 passed by the UNGA, highlight the connections between poverty, gender equity, and environmental sustainability.
NGOs
MDGs
FDI
SDGs
Economic nationalists support the:
Washington Consensus
Beijing Consensus
What have made critics question the sustainability of the Beijing Consensus Model?
China's Debt
Oversold real estate market
Communist Regime
Unregulated banking
Which resource plays a key role in the international economy?
Gold
Oil
Silver
Uranium
For a time, oil price volatility was regulated by:
United Nations
MNCs
WTO
OPEC
Before the 2008 crisis, Bretton Woods regulated and surveilled richer countries.
True
False
What led to the 2008 global financial crisis?
Excess Credit with insufficient equity
High spending + importation of cheap goods from China >>unsustainable trade imbalance<<
Slow reaction to structural weaknesses in the US
None of these
Why did the 2008 crisis affect other countries and not only the US?
US-based financial instruments were sold abroad, and financial institutions could not meet their obligations.
The World Bank couldn't manage the rapidly increasing debt between nations.
The EU and the US economies were interconnected in the same NGOs and through WTO agreements.
National Foreign Policy Interests which prevented countries from paying their debts.
Effects of the global crisis:
Higher unemployment rate.
More credits were available in US and Europe.
Investment decreased.
Some countries' banking systems thrived.
First Western country to borrow from the IMF since 1976.
Iceland
USA
Spain
Greece
What was the trickle-down effect of the 2008 global crisis?
South East Asian Crisis
Latin American Crisis
Eurozone Crisis
African Crisis
Which block was the most concerning regarding the 2009 crisis?
BRICS
PIGS
EU
Mercosur
Which country has the highest surplus worldwide?
USA
China
Finland
Germany
Which event highly questions EU success and sustainability?
Investment in US assets.
Brexit
Eurozone reforms
New policies from the EU parliament.
Which region was mostly exempt from the global crisis?
Latin America
North America
Africa
South East Asia
Countries that remained growing during the crisis:
China and India
US and China
Kenya and Spain
Brazil and Iceland
What is an issue that critiques find on bailout programs and other debt-relief measures taken by some institutions?
Moral hazard
High interest rates
Low interest rates
Inflation
Major financial contributor but without veto power of AIIB and NDB. Also, the country behind "One Belt, One Road" initiative. Looks to expand economic and geopolitical power.
India
China
Germany
USA
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