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Unit 3&4

Social 10-1

TermDefinition
Milton Friedman No government interference Free market + capitalism
J.M Keynes Spend Money + raise taxes Government interference
Friedrich Hayek No government interference Free trade + free market
Marshall Plan Give lots of money to developing countries
Great Depression Severe global turndown of economic depression from 1929-1939
International Extange Transfer of goods and services between countries
National Sovereignty The power a country has to govern itself and another country
Internationalism Principle that advocates greater cooperation among states
Free Trade Good and services traded with no extra fees
GATT (general agreement on tariffs and trade) Legal agreement to promote international trade by reducing terrifs
Group of 8 Intergovernmental organization that met to address international economic issues
World Bank Financial institution that provides loans to pursue capital projects
EU ( European union) Supernatural union that works to promote peace
Created by: kensiee
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