All Flashcards
Compare the economic impact of the internet and cell phones.
Internet: Revolutionized commerce, communication, and information access. Cell Phones: Increased connectivity, changed social interactions, and impacted driving habits.
Compare the effects of NAFTA and the TPP.
NAFTA: Increased trade between US, Canada, and Mexico. TPP: Aimed to increase trade between US and Asia-Pacific countries.
Compare the trade initiatives implemented by President Jimmy Carter and President Ronald Reagan.
President Jimmy Carter: implemented a number of trade initiatives, including the creation of the Department of Trade and the negotiation of a number of free trade agreements. President Ronald Reagan: implemented a number of trade initiatives, including the negotiation of the Canada-United States Free Trade Agreement and the North American Free Trade Agreement (NAFTA).
Who was Jimmy Carter?
US President who implemented trade initiatives in the late 1970s and early 1980s.
Who was Ronald Reagan?
US President who implemented trade initiatives in the 1980s and 1990s, including NAFTA.
Who was George W. Bush?
US President who implemented trade initiatives in the early 21st century.
Who was Barack Obama?
US President who implemented trade initiatives in 2009, including the negotiation of the Trans-Pacific Partnership (TPP).
Who was Donald Trump?
US President who implemented trade initiatives in 2017, including withdrawal from the TPP, the renegotiation of trade agreements with countries like Mexico and Canada, and the implementation of tariffs on a number of imported goods.
Define globalization.
Increasing interconnectedness of the world through trade, investment, and cultural exchange.
What is post-industrialization?
Shift from a manufacturing-based economy to a service and information-based economy.
Define the Rust Belt.
Region in the Midwest that experienced industrial decline and economic hardship.
What was the Dot Com Bubble?
Speculative bubble from 1995-2000 when internet-based companies were extremely overvalued.
Define economic inequality.
Unequal distribution of income and wealth among individuals or groups.
What is the racial wealth gap?
Disparity in wealth accumulation between different racial groups.
What is the World Trade Organization (WTO)?
International organization that oversees trade agreements between nations.
What is the Group of 8 (G8)?
International forum for the governments of 8 major industrialized nations.
Define NAFTA.
North American Free Trade Agreement between the US, Canada, and Mexico.
Define Trans-Pacific Partnership (TPP).
Proposed trade agreement between several countries in the Asia-Pacific region.