Global Economics Vocabulary
Teacher recommended
?- Created by: TessAni
- Created on: 13-04-13 17:20
| M | G | F | Q | I | T | E | Y | Q | H | I | N | O | I | K | R | L | J | O | I | S |
| O | F | T | C | N | E | C | H | R | B | K | O | S | B | P | Y | O | Q | P | E | S |
| P | Y | U | L | T | R | O | I | E | N | E | I | R | F | T | U | N | F | T | T | N |
| T | O | A | A | R | M | N | G | G | C | Y | T | N | E | R | S | G | D | I | O | Q |
| K | I | C | S | A | S | O | H | I | V | N | A | T | N | H | B | T | K | M | N | B |
| D | B | I | S | R | O | M | I | O | F | E | R | Y | X | T | H | E | G | A | C | T |
| O | A | V | I | E | F | I | N | N | O | S | G | Q | L | E | E | R | H | L | H | Y |
| R | O | U | C | G | T | C | C | A | T | I | E | L | J | I | H | M | D | C | U | U |
| G | I | V | A | I | R | C | O | L | F | A | T | A | B | C | R | C | V | U | G | G |
| I | I | G | L | O | A | O | M | T | N | N | N | D | G | A | I | A | O | R | N | N |
| F | C | S | E | N | D | N | E | R | M | E | I | D | V | O | M | P | P | R | Y | T |
| E | R | Y | C | A | E | V | C | A | O | C | C | K | U | J | R | I | D | E | C | O |
| K | N | W | O | L | F | E | O | D | Q | O | I | V | J | A | O | T | S | N | Y | M |
| H | C | J | N | T | O | R | U | I | C | N | M | G | K | F | Q | A | J | C | I | E |
| B | E | L | O | R | R | G | T | N | D | O | O | I | T | P | L | L | A | Y | D | L |
| G | C | A | M | A | M | E | N | G | P | M | N | Y | B | U | J | F | G | A | B | W |
| K | S | J | I | D | U | N | R | B | I | I | O | L | R | Q | F | L | N | R | B | G |
| Q | K | G | S | E | L | C | I | L | V | S | C | D | Q | G | H | O | I | E | R | R |
| V | J | F | T | Q | A | E | E | O | C | T | E | B | H | E | V | W | D | A | F | D |
| M | U | W | S | G | Y | H | S | C | D | S | O | F | K | S | S | S | T | P | A | K |
| W | Y | J | C | X | J | F | T | X | X | L | W | V | T | D | X | M | E | G | Q | P |
Clues
- countries in a region that have formed an 'economic club' based on abolishing tariffs and non-tariff barriers to trade e.g. NAFTA and ASEAN (8, 7, 4)
- countries with a GDP per capita of $11,116 or more (4, 6, 9)
- economic conditions in different countries become similar. Economists distinguish between monetary (inflation/interest) and real convergence (structure of economies). membership of the euro area only requires monetary convergence to have taken place. (8, 11)
- economists who believe that market failures will result in price and quantity rigidities such that the economy's equilibrium output in the long run may be less than its potential output (9, 10)
- economists who believe that markets will 'clear', that prices and quantities adjust to changes in the forces of supply and demand so that the economy produces its potential output in the long run (9, 10)
- flows of money used for investment in assets (direct investment in setting up production facilities/portfolio investment through buying shares in companies) (4, 4, 7, 5)
- Index of average export prices/index of average import prices x100 (5, 2, 5, 7)
- refers to conditions that need to be met to avoid the costs of monetary union. These conditions include: a high degree of labour flexibility, mechanisms for fiscal transfers, and absence of asymmetric shocks (different impact on different economies) (7, 8, 4)
- refers to the process of blurring the boundaries that separate economic activity in one nation state from that in another (8, 11)
- trade between countries in the same geographical area, for example trade between the UK and Germany or the USA and Canada (5, 8, 5)
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