<em>"Britain acknowledged the independence of the United States"</em> is a political effect. This meant, that the British Empire would not have any interference in the public policy of the territories of the newly formed country.
<em>"Countries that participated in war agreed to repay debts to one another"</em> is an economic effect. The monetary compensation for the effects of war would bring affect the budget of the newly formed country. This was an important issue, as the Continental Congress had issues collecting taxes from the states during the war and had to issue bonds. It would take time for the country to recover economically.
<em>"The war opened up discussion about racial equality"</em> is a political effect. This discussion was the first in a series of events that would lead up to the Civil War between the Union and the Confederate States".
An executive agreement made by the president requires the approval of "no one" if it is an executive order--which is one of the things that makes the President so powerful.
