UNC PLCY 110 Final Questions And Answers Solved 100% Correct!!

gains from trade - Each country can concentrate its efforts on what it does best (specialize) and trade some of those goods for goods that other countries produce most efficiently Protectionism - Government policy of restricting imports to "protect" domestic industries from foreign competition race to the bottom - a dynamic in which states compete to attract business by lowering taxes and regulations, often to workers' detriment S-shaped curve - shows income in the future as opposed to income today and shows at what point people get stuck in a poverty trap time inconsistency - tendency to systematically misjudge at the present time what you will want to do at some future time public goods - Goods that are neither excludable nor rival in consumption free riders - people who benefit from the group but give little in return Externalities - economic side effects or by-products that affect an uninvolved third party; can be negative or positive institutions - a mechanism of social order governing the behavior of individuals within a community moral hazard - Arises when people behave recklessly because they know they will be saved if things go wrongAdverse Selection - the situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction fraud - A deliberate deception intended to secure an unfair or unlawful gain cash transfers - direct payments of money to eligible poor people migrant - traveler who moves from one region or country to another refugee - A person who has been forced to leave their country in order to escape war, persecution, or natural disaster asylum seeker - Someone who has migrated to another country in the hope of being recognized as a refugee internally displaced - someone who is forced to leave his or her home and community but who remains in the same country proscriptive - forbidding or restricting something prescriptive - of or relating to the imposition or enforcement of a rule or method civil rights - the rights of citizens to political and social freedom and equality. welfare rights - right to receive basic goods- education, health care, protection Universalism - Everyone entitled to certain rights without distinctions based on race, sex, language, religion, political opinion, nationality, or other status. All governments can be expected to guarantee these rights for all the people that live under their jurisdiction.Relativism - : Human values vary according to cultural perspectives and the application or promotion of rights will vary by country or region. Governments should be free to choose which rights to provide. CEDAW - Neither traditional, religious or cultural practice nor incompatible domestic laws and policies can justify violations of the Convention