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10 Cards in this Set
- Front
- Back
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Three presepctives |
Realists Liberalists (Orthodox and Interventionists) Historic Structuralism |
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What are the tenants of Realism? |
They're more focused on power and politics. They're not not concerned with the market, really. |
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What are the main tenants of orthodox liberalism? |
Guided by principles of the free market economy that are hard to overcome. |
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What are the main tenants of liberal interventionism? |
They recognize the importance of the market, but recognize imperfections in it, thus seeking to regulate it. |
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What are the main tenants of historical structuralism? |
They do not accept the market economy and believe that the government is the only economic actor—i.e. owner of everything. |
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What are the main components of the balance of payments? |
Current account Capital account Remittences |
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What account is most important? |
The current account, because it defines competitiveness, since it has the balance of trade. |
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What are the government's options to eliminate a deficit in the balance of payments? |
Internal adjustment measures (austerity) External measures (currency devaluation) Borrowing Using reserves |
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What are the four monetary regimes? |
Classical Gold Standard Gold Exchange Standard Bretton Woods Flexible and fixed exchange system |
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Why was the IMF created? |
To stabilize exchange rates and secure states with short-term loans. |
