2. Drill 4/28
Name one economic pro and one con about Spain’s VAST empire

3. Pro – lots of money coming in
Con- Severe inflation, crippled economy

4. 4/28 Warm Up
Why might people in Maryland go to Delaware to buy clothes?

5. Why would Delaware eliminate sales taxes?
To make the state more attractive to consumers
Good for the economy

6. Why does MD charge a sales tax on certain goods?
Taxes brings in revenue for the state
DE citizens are charged higher property taxes to compensate for the loss of revenue from sales taxes

7. World Trade

8. Tariff
A tax levied on goods imported into a country

9. Who does the U.S. trade with?

13. What is NAFTA? North American Free Trade Agreement
Went into effect on January 1, 1994.
A pact that phases out most tariffs between the United States, Canada, & Mexico

14. NAFTA Gains & Pains Make a Plus/Minus chart in your notes
Use the reading to help you fill in the chart
You should have 4-5 details on each side

16. Whom do the characters represent?
Is the cartoon pro-globalization or anti-globalization?
What message is the artist attempting to convey?

19. Drill 11/7 What is Divine Right?
How did Louis XIII and Anne of Austria view the birth of Louis XIV?

20. Divine Right
It is God’s will that the King rule. He is God’s messenger on Earth

21. Louis XIII’s son’s birth is likened to that of the birth of Jesus Christ.

22. How did Louis XIV change over his reign
How did Louis XIV change over his reign? Why did he begin calling himself the “Sun King?”

23. Drill 4/29 What are the pros and cons of NAFTA?
Do you feel NAFTA was beneficial or harmful to America?

24. World Trade What problems are associated with World trade? Tariffs
Laws
Exchange rate
Customs/ culture

25. Organizations World Bank
Provides financial assistance to developing countries

26. The Exchange Rate
At one time, one American Dollar was worth 2 Canadian Dollars.
How could this influence trade?

27. International Monetary Fund
Helps control exchange rates between countries and facilitates international trade

28. World Trade Organization
International group who’s goal is to lower tariffs and expand free trade
Also acts as a referee, enforcing agreed upon laws

29. Classwork Begin working on your review packet for the test on Thursday
Use your book and your notes to complete the assignment
You may work with a partner, but you are responsible for your own work
The more you do here – the less you have to do at home. The assignment is due Thursday, it will count as a homework grade this quarter.

30. Summary
If you were a manufacturer in the U.S., would you be for or against NAFTA? Explain your answer.

31. Currency Chart
How has the Euro helped or hurt certain nations that adopted it?
What is common about the countries that have EXTREME devalued currency versus the dollar?
How does the dollar fair against the Euro, the Canadian dollar and the Japanese Yen?
How does that effect trade?