General Economics

Question 2

Consensus and Keynesian

Answer 2

UK
- after ww2 governments started to deepen its responsibility within the economy by directly owning key industriues
- government monitored economic growth, prices, and exchange rates (Keynesian)

Question 3

Inequalities in the UK

Answer 3

ethnic minorities suffer from:
- diminished economic opportunity
- cultural isolation
- marginalization in housing and labor markets
- dramatic increase of female ethnic workers

Question 4

Environment in the UK

Answer 4

• storms, floods, air, pollution, fires, emissions, acid rain
• restoration of the ozone layer
• pro-business bias is prominent which prevents major reform

Question 5

Oil: Blessing or Curse?

Answer 5

While oil creates a lot of business and wealth, it also caused Nigeria to become dependent on oil revenues. It has become a resource curse since it made it possible for the gov. to ignore developing other sectors to diversify the economy

Question 6

ECOWAS

Answer 6

Economic Community of West African States
- created a single currency system, which was never implemented through Nigeria

Question 7

State Capitalism in Mexico

Answer 7

Gov. guided development in the economy to encourage investment and entrepreneurship (helped grow the economy)

Question 8

Mexico and Oil

Answer 8

• Oil wealth was used to bring Mexico out of debt
• oil caused the economy to be extremely valuable
• abuse of oil revenue led to gov. corruption and a poor population

Question 9

Environment in Mexico

Answer 9

• tremendous biodiversity but fragile ecosystems caused by insensitive economic development
• economic development and industrialization favored over conservation
• After brought into NAFTA, Mexico was threatened to take greater env. insight
• civil society advocates for conservation

Question 10

NASFTA/USMCA

Answer 10

Mexico pursued an outward-oriental development strategy
- country allowed more foreign investments and ownerships
- ATTRACTS FOREIGN ECONOMICS
- USA became Mexico’s #1 trading partner
- globalization reduced gov. corruption

Question 11

Insider Privatization in Russia

Answer 11

Transfer of state to privately owed enterprises, which hampered reform of business operation and reduced the gains of privatization

Question 12

Oligarchs and Russia

Answer 12

• wealthy individuals that limited the authority of regional offices due to their privatization and political influence
• used by Putin to rise to power before arresting or killing them

Question 13

Environment and Russia

Answer 13

• never prioritized the environment
• prominent resource-extraction industries
• most state environmental organizations were abolished
• weak policies

Question 14

SOE and China

Answer 14

STATE OWNED ENTERPRISES
prominent in old and new Chinese economics that dominate critical industrial sectors such as steel, petroleum, and banking

used to ensure the CCP have control over the economy after rolling back harsh limitations

Question 15

“floating population” in China

Answer 15

peasants once stuck by collective farmed in rural chine migrated to urban areas to look for jobs (largest human migration in history)

Question 16

Environment and China

Answer 16

• sacraficed the environment during the pursuit of excessive production and industrialization
• horrible air and water pollution
• depends on engineering to reduce problems but never actually takes action

Question 17

Environment and Iran

Answer 17

• massive air pollution caused by cars and the entrapment of mountains
• liberal reformists push for environmentalism
• administration tackle smaller problems but leave core environmental problems untouched

Question 18

Iran’s Global Economy and OPEC

Answer 18

• became dependent on developed countries to support its state economy
• oil became a dependency curse