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Questions and Answers
What was the primary goal of the European monetary system created in 1978?
What was the primary goal of the European monetary system created in 1978?
What was the outcome of the currency snake established in 1972?
What was the outcome of the currency snake established in 1972?
What does the monetarist approach suggest about monetary integration?
What does the monetarist approach suggest about monetary integration?
In what year did the US administration end the Bretton Woods system?
In what year did the US administration end the Bretton Woods system?
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Which of the following describes the main feature of the exchange rate mechanism established in 1978?
Which of the following describes the main feature of the exchange rate mechanism established in 1978?
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What key event in 1989 significantly influenced the formation of the European Union?
What key event in 1989 significantly influenced the formation of the European Union?
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Which country opted out of the monetary union established by the Maastricht treaty?
Which country opted out of the monetary union established by the Maastricht treaty?
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What was one of the convergence criteria set by the Maastricht treaty?
What was one of the convergence criteria set by the Maastricht treaty?
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What was the main feature of a free-floating exchange rate?
What was the main feature of a free-floating exchange rate?
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What occurred in 1992 that threatened the Maastricht treaty's implementation?
What occurred in 1992 that threatened the Maastricht treaty's implementation?
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How does a managed floating exchange rate system differ from a free floating rate?
How does a managed floating exchange rate system differ from a free floating rate?
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Which of the following best describes fixed exchange rate systems?
Which of the following best describes fixed exchange rate systems?
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What approach did influential Black business leaders adopt to promote economic independence in the early 20th century?
What approach did influential Black business leaders adopt to promote economic independence in the early 20th century?
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Which philosophy underpins the management approach of early 20th-century Black business leaders?
Which philosophy underpins the management approach of early 20th-century Black business leaders?
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How did Black business figures like Charles Clinton Spaulding influence their communities?
How did Black business figures like Charles Clinton Spaulding influence their communities?
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What major strategic shift occurred for Citibank in 1981 regarding its credit card operations?
What major strategic shift occurred for Citibank in 1981 regarding its credit card operations?
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What impact did local regulations have on the profitability of bank credit card programs during the postwar period?
What impact did local regulations have on the profitability of bank credit card programs during the postwar period?
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What tactic did banks use to bypass state-level regulations regarding credit cards?
What tactic did banks use to bypass state-level regulations regarding credit cards?
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What was a broader consequence of Citibank's strategic relocation for the consumer finance industry?
What was a broader consequence of Citibank's strategic relocation for the consumer finance industry?
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What unique form of capitalism was developed by early 20th-century Black entrepreneurs?
What unique form of capitalism was developed by early 20th-century Black entrepreneurs?
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What was the original purpose of establishing the Bank of England?
What was the original purpose of establishing the Bank of England?
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Which central bank was created in response to the financial crisis of 1907?
Which central bank was created in response to the financial crisis of 1907?
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What major change occurred in Canada’s banking system in 1931?
What major change occurred in Canada’s banking system in 1931?
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What was a key role of the newly created Federal Reserve?
What was a key role of the newly created Federal Reserve?
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When was the Bank of Canada established?
When was the Bank of Canada established?
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What was a significant outcome of the Porter Commission in 1964?
What was a significant outcome of the Porter Commission in 1964?
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Which Canadian bank was the first to operate?
Which Canadian bank was the first to operate?
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What was one of the main goals of the Werner report in 1970?
What was one of the main goals of the Werner report in 1970?
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Which event was instrumental in leading to the creation of chartered banks in Canada?
Which event was instrumental in leading to the creation of chartered banks in Canada?
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What led to the establishment of the Royal Commission in 1933 in Canada?
What led to the establishment of the Royal Commission in 1933 in Canada?
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What was a primary reason for the high demand of silk in the Roman Empire?
What was a primary reason for the high demand of silk in the Roman Empire?
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What significant event is believed to have been facilitated by the Silk Road?
What significant event is believed to have been facilitated by the Silk Road?
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Which technological innovation significantly improved textile production during the Industrial Revolution?
Which technological innovation significantly improved textile production during the Industrial Revolution?
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What role did Britain play in international trade by the late 1790s?
What role did Britain play in international trade by the late 1790s?
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How did Eli Whitney's cotton gin impact textile production in the United States?
How did Eli Whitney's cotton gin impact textile production in the United States?
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Who was responsible for introducing the power loom to the United States?
Who was responsible for introducing the power loom to the United States?
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Before the Industrial Revolution, how were textiles primarily produced?
Before the Industrial Revolution, how were textiles primarily produced?
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What was China's status regarding silk production by 300 AD?
What was China's status regarding silk production by 300 AD?
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What percentage of the value of all U.S. products shipped abroad was constituted by raw cotton on the eve of the Civil War?
What percentage of the value of all U.S. products shipped abroad was constituted by raw cotton on the eve of the Civil War?
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What feature distinguishes Zara's operational model in the fast fashion industry?
What feature distinguishes Zara's operational model in the fast fashion industry?
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How did Inditex, particularly Zara, change the traditional fashion model?
How did Inditex, particularly Zara, change the traditional fashion model?
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Which factor did Mukti Khaire indicate was central to the development of India's fashion industry since the 1980s?
Which factor did Mukti Khaire indicate was central to the development of India's fashion industry since the 1980s?
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What was one of the main outcomes of the cotton boom in North America during the 1780s?
What was one of the main outcomes of the cotton boom in North America during the 1780s?
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What strategy did Zara employ to control costs in its fast fashion model?
What strategy did Zara employ to control costs in its fast fashion model?
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What was a significant aspect of Inditex's international expansion strategy by 2005?
What was a significant aspect of Inditex's international expansion strategy by 2005?
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What traditional Indian clothing styles were promoted by entrepreneurs in the Indian fashion industry?
What traditional Indian clothing styles were promoted by entrepreneurs in the Indian fashion industry?
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Study Notes
Week 7: Business of Alcohol
- Two examples of the politics of spirits: Gin and rum.
- The Gin craze: 16th century Dutch gin (Genever) mixed with juniper berries for flavour and medicine, became popular in 17th century Britain for its affordability.
- William III of England's tariffs incentivized British distilleries, which contributed to gin's widespread consumption. The ease of production and low cost led to issues of public drunkenness.
- Gin Act of 1751: This act aimed to control gin production for regulatory reasons.
- Rum: Distilled from molasses, popular in 17th to 18th-century Caribbean colonies.
- Sugar plantations: Led to need for cheap labour, importing African slaves became a prevalent practice.
- Colonial Tradition of rum: Sailors received daily rum rations.
- Cuba and Bacardi: Bacardi was a rum supplier to the Spanish royal family in Cuba. Control of rum distilleries were significantly impacted by Fidel Castro during the Cuban Revolution.
Week 7 Part 2: Temperance Movement
- Prohibition: a movement and policies forbidding manufacture, transportation, sale, or consumption of alcohol. Largely driven by religious and moral beliefs, especially prevalent in Protestant culture.
- Canadian influences: the Dominion alliance and the women's temperance union.
- Referendum and a government decision: Wilfred Laurier's government held a referendum in 1898- no national prohibition passed.
- WW1 and prohibition: 1901 prohibition was introduced in PEI, and throughout WW1 it began spreading.
- Demon rum: became a morale booster often provided to soldiers during WW1.
Week 7 Part 3: Trends
- InBev was created from merger of AmBev and Interbrew in 2004.
- Growth is driven by known heritage brands like Budweiser.
- Governments aim to control consumption while preserving companies' profits.
- Voluntary codes of conduct for alcohol marketing.
- Loi Evin in France regulates alcohol marketing and advertising.
Week 8: Travel and Tourism
- Rome's rise in tourism (Roman Empire): strong and rich culture made travel possible.
- Factors for tourism: needed money, and safety assurance that they could travel without fear from crime or other threats.
Week 8 Part 1: Business of Tourism
- Rome's empire made tourism possible because of its strong and rich culture.
- For safety and assurance of travel, needed money.
- Roman empire tourism: Grand Tour: a popular custom of European gentlemen.
Week 8 Part 2: Tools of Tourism
- Cruise ships developed in the mid-19th century for travel.
- Important innovations: jet planes and improved travel, making travel more accessible.
Week 8 Part 3: Tools of Tourism - Commercial Aviation
- The first scheduled passenger airline service started January 1, 1914.
- Early 20th-century air travel developments made air travel across continents easier.
Week 9: Money
- Kinds of money:
- Commodity money: gold, silver or anything with agreed value.
- Token money: coins or paper exchanged for gold or silver value.
- Fiat Money: Government issued currency not backed by another commodity.
- Potosi: silver, and the importance of mining and production to early Capitalism.
- What is a bank? What is the function of a bank in an economy?
- Bank of England : a model for central banks created in the late 17th century. The model and example for other nations banks.
- Other Central Banks: Establishment of the Federal Reserve in 1913.
Week 9 Part 2: Banks
- Chartered Banks in Canada: how they function, and early developments in Canadian banking.
- Banks operate under government charters.
- Evolution of banking - the early 1900's.
- Banking system innovations; what problems emerged; how these were tackled
- Bank failures of the 1920s
- Bank failures of the Great Depression.
Week 9 Part 3: Currency Exchange
- Free floating exchange rate: currency value is set by market forces.
- Managed floating exchange rate: central bank has some control over currency value
- Fixed exchange rate: central bank pegs currency to a specific value
- Free moving capital, and fixed exchange rates, as part of monetary union
- The Maastricht treaty: Establishment and structure of the common European currency.
Week 10: Deindustrialization and Rise of Service Economy
- History of deindustrialization: industries that previously played a dominant economic role experience decline in importance and/or job numbers.
- Manufacturing jobs are lost as manufacturing is mechanized.
- Service sector growth.
- Globalization and offshoring.
Week 11: Gasoline
- What is gasoline? A byproduct of oil refining.
- The role of gasoline in the internal combustion engine.
- The oil industry:
- Standar Oil (Monopolies)
- John Rockefeller
- Petro Canada
- OPEC
- Impact on global politics.
- The role that resource extraction plays in world conflict
- Extraction and consequences: Pollution, destruction of environments and global impact.
Week 12 :
- Offshoring: The location of a company's productive facilities outside of its home country for cost effectiveness and other reasons.
- Knowledge economy
- The rise of the Quaternary and Quinary sector which includes; information technologies, consultation services, research and education.
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Description
Explore the historical complexities of gin and rum within the context of their politics and economics. This quiz delves into the Gin craze of 17th century Britain and the impact of colonialism on rum production in the Caribbean. Understand the significant acts and figures that shaped the alcohol industry.
