POLI 105 VCU FINAL EXAM STUDY PACK
COMPLETE NOTES AND PRACTICE 2026
◉ Bretton Woods.
Answer: An international conference where 44 nation-states met in
New Hampshire in July 1944 that established the World Bank and
the International Monetary Fund (IMF). Established the economic
structure of the UN.
◉ Most Favored Nation (MFN).
Answer: a means to promote equality in trade relationships by
guaranteeing that if one country is given better trade terms by
another then all other trade partners must receive the same terms
(applies to all states in the WTO)
◉ Generalized System of Preferences (GSP).
Answer: US trade agreement where rich states give trade
concessions to poor ones to help their economic development
◉ Uruguay Round of GATT.
Answer: - Problems of issues
- Problems of duration
- Problems of enforcement and permanence
, 1986-1994
CREATED THE WTO
◉ Who protests WTO, free trade in general?.
Answer: - Labor
- human rights groups
- environmental groups
◉ who is against free trade?.
Answer: - protectionists—economic nationalists
- labor
- environmentalists
◉ NAFTA (North American Free Trade Agreement).
Answer: An agreement for free trade between the United States and
Canada and Mexico
◉ FTAA (Free Trade Area of the Americas).
Answer: A trade agreement currently under negotiation that would
expand the North American Free Trade Agreement (NAFTA) to
include 31 additional nations in the Western Hemisphere
*Miami, Nov. 2003
COMPLETE NOTES AND PRACTICE 2026
◉ Bretton Woods.
Answer: An international conference where 44 nation-states met in
New Hampshire in July 1944 that established the World Bank and
the International Monetary Fund (IMF). Established the economic
structure of the UN.
◉ Most Favored Nation (MFN).
Answer: a means to promote equality in trade relationships by
guaranteeing that if one country is given better trade terms by
another then all other trade partners must receive the same terms
(applies to all states in the WTO)
◉ Generalized System of Preferences (GSP).
Answer: US trade agreement where rich states give trade
concessions to poor ones to help their economic development
◉ Uruguay Round of GATT.
Answer: - Problems of issues
- Problems of duration
- Problems of enforcement and permanence
, 1986-1994
CREATED THE WTO
◉ Who protests WTO, free trade in general?.
Answer: - Labor
- human rights groups
- environmental groups
◉ who is against free trade?.
Answer: - protectionists—economic nationalists
- labor
- environmentalists
◉ NAFTA (North American Free Trade Agreement).
Answer: An agreement for free trade between the United States and
Canada and Mexico
◉ FTAA (Free Trade Area of the Americas).
Answer: A trade agreement currently under negotiation that would
expand the North American Free Trade Agreement (NAFTA) to
include 31 additional nations in the Western Hemisphere
*Miami, Nov. 2003
