Global Institutions
What was the estimated cost of rebuilding?
$1.1 B
Developing countries should be offered flexibility with respect to lowering their trade barriers, more time to adjust to change and special privileges. What principle is this?
Development and economic reform should be encouraged
What does DWF stand for?
Divine Will Foundation
What was a result of the free trade that happens in the EU?
Economic Benefit for all countries
Which institution has more than 700 members elected directly by European citizens every 5 years?
European Parliament
What does EU stand for?
European Union
Examples of less formal institutions
Examples of less formal institutions include regimes.
What country is not part of the European Union?
Russia
What does AI do?
Safeguards and protects humans including political prisoners rights
What does ILO do?
Seeks to promote labor rights
How many member countries are there in The World Bank?
189 countries
Which countries are members of the EU but are not in the Schengen Area?
Great Britain, Ireland, Cyprus, Bulgaria and Romania
What had output growth in Afghanistan slowed to in 2018?
1%
How many countries are in the European Union today?
27
What does FAO do?
Aims at eradicating hunger and starvation in poor countries, ensuring food security and good nutrition
Example of Global Institutions
An example of a global institution is the International Organization for Migration
Define Global Institutions
An international organization composed of most of the countries around the world. It was founded in 1945 to promote peace, security, and economic development.
What country is not a member of The World Bank?
Andorra
How many people were affected by cyclone Idai in Zimbabwe?
Approximately 270,000
What does AI stand for?
Artificial intelligence
A member from WTO cannot set the trade policy which discriminate between its trading partner. It can impose a higher tariff on imports from one country and a lower one on imports from another country. (True or False)
False
All countries in the E.U use the Euro. (True or False)
False
The Syrian Civil War and ISIS have created a migrant crisis E.U countries but they are all willing to take an equal number of immigrants. (True or False)
False
What does FAO stand for?
Food and Agriculture Organization
When was the UN founded?
Founded in 1945 after World War II
Trade barriers should be lowered through negotiations. What principle is this?
Free trade
What is not a value on which the EU is founded?
Free trade
In 1947, 29 countries formed an agreement known as
General Agreement on Tariffs and Trade
What does GATT stand for?
General Agreement on Tariffs and Trade
What does the WB do?
Gives loans to poor and developing countries to promote economic development.
Functions of Global Institutions
Governance refers to the different ways that organizations, institutions, businesses, and governments mange their affairs. Global governance refers to the way in which global affairs are managed.
The WTO continues the GATT's emphasis on equal, non-discriminatory treatment for all member countries (excepting trading blocs). What principle is this?
Non-discrimination
The GATT was based on which principles?
Non-discrimination, Elimination of non-tariff trade barriers and consultations to resolve trade disputes.
What does ILO stand for?
International Labour Organisation
What does IMF stand for?
International Monetary Fund
What is the WHO concerned with?
Is concerned with public health.
WTO helps in the implementation and administration of international trade agreements. What is this function?
It administers WTO trade agreements
What is one of the benefits of using a single currency in many EU countries?
It allows people, money, and goods to move freely from country to country.
The WTO cooperates with World Bank in order to facilitate coordination of global policies. What is this function?
It facilitates co-operation with other international organizations
When WTO members disagree on trade issues, the WTO makes decisions to resolve the differences on the basis of the legal foundations of the trade agreement. What is this function?
It handles trade disputes
The WTO carries out periodic reviews of its members' national trade policies. Members are required to notify the WTO of any changes in trade policy. What is this function?
It monitors national trade policies
The assistance provided to developing countries concerns trade-related issues arising from WTO trade agreements. What is this function?
It provides technical assistance and training for developing countries
What does the UN promote?
It purpose is to promote peace.
The Schengen Agreement allowed member states of the EU to have:
Open borders with each other
International Organizations
Organizations made up of every nation
Regional Organizations
Organizations made up of members that are located in a particular region of the world
Governments, firms, investors etc., should have confidence that trade barriers will not be raised arbitrarily. What principle is this?
Predictability
Unfair practices such as dumping and export subsidies are discouraged. What principle is this?
Promotion of fair competition
What does the UNHCR do?
Protects an supports refugees
What does UNICEF do?
Provides humanitarian and development assistance to children in poor and developing countries.
What does DWF do?
Provides medical care during natural and war disasters
Which country does not use the euro?
Sweden
Why is Switzerland not part of the EU?
Switzerland has one of the world's highest standards of living and prefers its economy to not be regulated under the eU.
EU is composed of and promotes
The EU is composed of European nations and promotes economic cooperation
An agreement was reached to replace the GATT by a new international trade body. This body was established in January 1995, and was called
The World Trade Organisation
What is a requirement for membership in the European Union?
The country must have a stable democracy that respects human rights.
The Importance of Global Institutions
The institutions are designed to promote cooperation across international boundaries by providing information and lowering cost. Institutions can be formal institutions of they can be less formal sets of agreements.
Why was the European Union formed?
To prevent further wars and to unite Europe economically.
What is the purpose of World Bank?
To provide developing countries with money and aid to further develop.
What is not a goal of The World Bank?
To provide water to every person by 2030
E.U nations share common goals about trade, travel, global warming, etc. (True or False)
True
Member nations of the E.U must all be democratic nations. (True or False)
True
What European countries are a candidate for membership in the European Union?
Turkey
Which country voted in 2016 to pull out of the European Union?
United Kingdom
What does UN stand for?
United Nations
What does UNESCO stand for?
United Nations Educational, Scientific, and Cultural Organization
What UNHCR stand for?
United Nations High Commissioner for Refugees
What does UNICEF stand for?
United Nations International Children's Emergency Fund
Examples of formal institutions
WTO, EU
What does WB stand for?
World Bank
What does WHO stand for?
World Health Organization
What does WTO stand for?
World Trade Organization
