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11 Cards in this Set
- Front
- Back
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The euro |
The currency adopted by the members of the economic and monetary union |
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Single market |
Removal of obstacles, such as customs checking, to allow the free movement of goods, services, capital and people through the area |
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European monetary union |
A group of countries that have adopted the euro and have their monetary policy controlled by the European Central Bank |
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Trade deflection |
Redirection of international trade due to the formation of a free trade area |
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Rules of origin |
Stipulation that a product must be manufactured from locally sourced components |
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Intra-trade area |
Trade between the members of a trading agreement |
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Trade creation |
An increase in international trade the results from the reduction in tariff barriers |
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Social dumping |
Where goods are produced by low wage workers usually without expense by employers on workers' social benefits |
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Anglo-saxon neo-liberalism |
Economic reform aimed at boosting the dynamism of economkes - in contrast to the 'social model' which stresses social objectives |
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FOREX market |
Abbreviation of foreign exchange markets |
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Eurosclerosis |
High unemployment and slow job creation despite economic growth |
