3/23 Class Flashcards
1
Q
Bretton Woods Agreement
A
came about due to the Great Depression, BW was a monetary meeting where they invited all of the United Nations
2
Q
inflation is good
A
it encourages people to spend
3
Q
Smithsonian Agreement
A
came about because LBJohnson’s policies over valued the $ and economic growth was slowed/ also Vietnam War going on
4
Q
International Monetary Fund(IMF)
A
made it so that nations were on a more equal playing field, keep world economy stable monitor currencies Help 3rd world countries - lend money Give financial advice to member nations Macro aspect - reduce poverty sustain imports/exports create jobs keep currency values higher create sanctions for countries that cause economic problems
5
Q
pegged
A
when a currency is pegged to a stronger currency
6
Q
sterilization
A
change money supply
