A Major Development in South America Is

question 71

Multiple Choice

A major development in South America is:

• A) the implementation of a single currency and a regional central bank.
• B) the growth of intercountry trade, spurred on by the progress toward free-market policies.
• C) the privatization of traditionally nationalized industries.
• D) the elimination of all trade barriers among member countries.

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Definitions:

Monopoly Power

The ability of a company or entity to control or dominate an industry or sector, making it the primary or sole provider, often leading to limited competition and higher prices for consumers.

Norris-LaGuardia Act

A 1932 U.S. federal law that restricts the power of federal courts to issue injunctions against nonviolent labor disputes and supports workers' rights to participate in unions and strikes.

Yellow Dog Contracts

Employment agreements where workers promise not to join a labor union during their tenure with the employer, historically deemed unenforceable in the U.S.

Criminal Conspiracy Doctrine

A legal principle that regards the agreement between two or more parties to commit a criminal act as punishable, even if the intended crime is not actually completed.