Exercise

2. Failure to make scheduled payments, called a ___________, is considered a drastic action because it destroys lenders' confidence and results in cutoff of future loans, so borrowers usually attempt debt renegotiation.
6. In contrast with nonconvertible currency, __________ currency is money that can be readily converted to leading world currencies.
7. A crucial aspect of migration and immigration is ____________--money sent home by migrants to relatives in their country of origin.
12. In 2005, world leaders enshrined the concept of _____________ to protect, which holds that governments must act to save civilians from genocide or crimes against humanity perpetrated or allowed by their own governments.
14. The _ _ _ _ is an IGO with 184 member states, which tries to regularize patent and copyright law across borders.
15. The EU headquarters and staff have the reputation of colorless bureaucrats called __________s-who care more about technical problem solving than about politics.
16. The _ _ _ _ _ _ treaty established rules on territorial waters--12 miles for shipping and a 200-mile exclusive economic zone.
17. The 1997 ____________ protocol adopted a complex formula for reducing greenhouse emissions to 1990 levels in the global North over about a decade.

1. An exception to the most-favored nation system is the Generalized System of __________, by which rich states give trade concessions to poor ones to help their economic development.
3. The ___________ economy is where foreign capital is invested in a third world country to extract a particular raw material in a particular place.
4. One way to try to create a trade surplus is through import _____________-the development of local industries to produce items that a country had been importing.
5. The ______________ plan gave birth in 1952 to European Coal and Steel Community.
8. The __ __ __ policy of the EU is based on the principle that a subsidy extended to farmer in any member state should be extended to farmers in all EU countries.
9. According to _____________s, technological and economic development lead to more and more supranational structures as states seek practical means to fulfill necessary functions.
10. The administration of the UN takes place through the UN ____________, led by the secretary-general.
11. The _____________ rate is the interest rate the government charges when it loans money to private banks.
13. Imports can be limited by a _________. _________(s) are ceilings on how many goods of a certain kind can be imported.