Unit 3 Vocabulary

2. Provision linking printed money to gold
3. International agreement aimed at reducing trade barriers
6. UN agency providing loans to financially struggling developing countries
8. Financial help provided by the government to support an industry
9. Term for a country's overall economic output
10. Proportional shares paid by member countries to the IMF
13. Economic system based on individual freedom and private property
14. Situation where the amount of currency increases but its purchasing power decreases
15. Treaty signed in 1992 by Canada, US, and Mexico to remove trade barriers
17. Number of countries involved in establishing the Bretton Woods system
18. System established to regulate the postwar global economy
19. The city where the Bretton Woods Agreement was forged
20. Value of a country's currency as determined by its government

1. An agreement established after WWII to regulate the postwar global economy
4. Period of reduced economic activity lasting more than two quarters
5. Organization controlling the World Bank and IMF
7. Economic event characterized by high unemployment and low production
11. Group of countries with similar economic interests sometimes form a _____ ____.
12. Global network of institutions promoting international trade and currency regulation
16. Currency rates determined by the foreign exchange market