Module 31 key terms

International Monetary Fund

global organization that works to achieve sustainable grown and prosperity for its 190 countries.

NAFTA(North American Free Trade Agreement)

implemented to promote trade between the U.S., Canada, and Mexico. eliminated most tariffs on trade between the three countries, was effect on Jan.1

PRI

main force for political stability in Mexico

Standard of living

quality of life of a person or a population, as indicated by the goods, services, and luxuries available to the person or people

Land reform

redistribution of farmland by breaking p large estates and giving the resultingsmaller farms to peasants

recession

slowdown in a nation’s economy

Welfare state

social system in which the state takes overall responsibility for its citizens, providing health care, education, unemployment compensation and social security

Brasilia

the new capital city built in central Brazil, established by Juscelino Kubitschek

rule of law

the idea that nations should be governed by laws, not by the arbitrary decision of individuals. In a nation governed by rule of law, all people are subject to the laws, including government authorities and lawmakers themselves