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Economics ch. 17,18 International

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1.successful regional cooperation with a customs union, (much of a continent)
3.international agreement signed in 1947 between 23 countries to do away with tariffs and quotas
4.ten nation group in East Asia to accelerate economic growth
14.energy produced by moving water
15.not repaying borrowed money
16.forced common ownership of agriculture of industry in Soviet Russia
20.producers or sellers who agree to limit production to control prices
23.more specialization leading to higher productivity
24.water and sulphur dioxide mix that falls over N.A. damaging forests and rivers
25.34 nations, 1994, regional free trade in the America's
27.comparing the costs of an action to its benefits
28.Gorbachev's new economic plan in Russia that restructured the economy
31.Soviet plan to industrialize the nation under Stalin
34.using many tools (capital) instead of labor
36.loans that might not ever be paid back to the neediest countries
37.production at a lower opportunity cost than someone else (more efficient)
39.merchants sell goods illegally
40.90% gasoline 10% ethanol (from corn)
41.independent and sometimes illegal labor union in eastern Europe
42.agreement in which two or more countries abolish tariffs and trade restrictions among themselves
43.integrated and iterdependent world economy
1.single currency in Europe
2.next best alternative you give up in a trade off
3.central authority that directed overall economic activity in Soviet Russia
5.money borrowed from foreign banks and governments
6.unlimited wants, limited resources
7.average age at which people die
8.discharge of poisonous or damaging material
9.production without regard to national boundaries
10.number of live births per 1000 people
11.disastrous economic plan in China in the 1950's to industrialize the nation
12.oversupply of oil
13.certificates used to purchase government owned properties
17.condition in which the average number of births and deaths balances
18.international organization that offers advice on economic policy, helps support poor countries currencies
19.international corporation that makes loans and provides assistance to developing countries
21.country whose per capita GNP is lower than most industrialized countries
22.population only produces enough to support itself (barely getting by)
26.number of people per square mile
29.conversion of state owned production to private ownership
30.the export of a nations currency and foreign exchange, people have lost faith in their government
32.economic system with private ownership of property and production
33.small loan made to women to start an income generating project
35.taking over of a foreign property without a payment in return
38.hiring outside firms to lower operating costs

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