A situation in which many or most countries engage in protectionism is known as a(n)
A) hyperinflated economy.
B) liquidity crisis.
C) resource curse.
D) sovereign default.
E) trade war.
According to the textbook, one advantage that NGOs have over states is
A) they are smaller and can work unseen by the media.
B) they can raise money from individual donors.
C) they have been sanctioned by the United Nations.
D) they only have to deal with transnational issues.
E) they work with states that might otherwise not accept aid.
A major trade war in the 1920s had what effect on global trade?
A) It changed trade from agricultural to industrial goods.
B) It dramatically slowed global trade.
C) It forced trade from shipping by sea to shipping by land.
D) It fostered more trade.
E) It increased trade in the Americas but not elsewhere.
The gross domestic product measures the total amount of
A) agricultural output of a state.
B) goods and services exported by a state.
C) goods and services produced in a state.
D) income earned by citizens of a state.
E) products created by a state.
____ can be particularly destabilizing for governments. As prices continue upward, citizens feel like they are no longer able to afford basic staples; dissatisfaction with the government increases as well.
A) Deflation
B) Hyperinflation
C) Overinflation
D) Stagflation
E) Superinflation
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