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6 Cards in this Set

  • Front
  • Back
Nations are sovereign
Countries almost never care as much about the interests of foreigners as they do about national interests
Own sovereignty, own policies
nobody is in charge of the whole world economy
Policies important to international economics
monetary, fiscal, international movement of productive resources(people & financial capital)
Different Moneys
-value of one money relative to another can change (fluctuating by the minute)
-monitary policy affects the country and other countries as well
Different Fiscal Policies
-own public spencing, power to tax, power to regulate, import tariffs, export subsidies
Factor Mobility
resources mobile across national borders.
-people:language, customes traditions
-Financal capital:home bias
-land least mobile