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World Bank
| An international organization that helps developing countries in their process of economic growth by providing loans, advice, and research. |
Natural Resources
| The renewable and nonrenewable gifts of nature that can be used to produce goods and services, including but not limited to land, water, and minerals. |
Isolationism
| The view that the United States should withdraw from world affairs, limit its foreign aid, and avoid involvement in foreign wars. |
Regulatory Agencies
| Governmental departments that issue regulations in order to promote the economy, protect the enviroment, and promote public health and safety. For example: Environmental Protection Agency, Center for Disease Control, and Food and Drug Administration. |
Monetary Policy
| Actions by the federal government to control the supply of money and credit (loans) to promote economic growth and control inflation. These actions are taken by the Federal Reserve System. |
North American Free Trade Agreement
| This agreement removed trade restrictions (such as tariffs) among the United States, Canada, and Mexico to increase free trade among these three nations. |
Opportunity Costs
| The value of the next best choice that one gives up when making a decision about how to spend money. |
Interventionism
| The view that the United States should be involved in world affairs, provide foreign aid, and make military and economic alliances with other nations. |
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