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