AP®︎ Comparative Government: Topic 5.4 Flashcards

Reducing the state's direct control of the economy and relying more on market mechanisms, private ownership, trade, competition, and foreign investment

Policies that remove barriers on domestic and foreign economic actors and favor competition, private ownership, freer trade, foreign investment, and a smaller direct state role

Reducing restrictions on political activity by expanding rights, civil liberties, political competition, independent organization, and protections against arbitrary government action

Government financial support for an industry, producer, consumer, or activity, often used to lower prices, preserve employment, or protect an industry

A tax on imported goods that raises their domestic price, protects domestic producers, and may provide government revenue

The transfer of an enterprise, asset, or service from state ownership to private ownership

The removal or relaxation of government rules governing prices, licensing, competition, hiring, investment, or production

Investment by a person or company from one country in productive activity in another country with lasting influence or control

Russia's rapid post-Soviet transition to markets through price liberalization, open trade, and privatization, followed by inflation, hardship, corruption, and concentrated wealth

Margaret Thatcher's British neoliberal program of privatization, deregulation, reduced support for uncompetitive industries, and restrictions on trade unions

An increase in the production of goods and services, usually measured by the percentage change in real GDP.

The market value of final goods and services produced within a country during a given period

GDP adjusted for inflation so that changes reflect production rather than changing price levels

GDP divided by population, providing an approximate measure of average economic output or income per person

Long-term improvement in productive capacity, infrastructure, technology, education, health, occupational patterns, and standards of living

An index from 0 to 1 combining life expectancy, education, and gross national income per capita, with higher values indicating greater human development

A measure of income or wealth inequality from 0 to 1, or 0 to 100, where 0 is perfect equality and the highest value is maximum inequality