INTS Midterm

Question 1

What is the Political Trilemma of the World Economy?

Answer 1

A country must choose between democracy, national sovereignty, and hyper-globalization

This concept is central to Dani Rodrik’s argument about the trade-offs nations face.

Question 2

What example illustrates the sacrifice of sovereignty for economic integration?

Answer 2

The European Union

The EU member states have ceded some degree of national sovereignty to facilitate economic cooperation.

Question 3

What are the limits of hyper-globalization according to Rodrik?

Answer 3

Unrestricted global markets lead to financial instability

This is exemplified by the 2008 Financial Crisis.

Question 4

What alternative globalization model allowed trade growth while maintaining policy control?

Answer 4

Bretton Woods system

This system provided a framework for international monetary cooperation.

Question 5

True or False: Some argue that globalization can strengthen democracy if properly regulated.

Answer 5

True

This perspective suggests that thoughtful regulation can enhance democratic institutions.

Question 6

What are two real-world applications of prioritizing sovereignty over economic integration?

Answer 6

• U.S.-China Trade War
• Brexit

Both examples highlight countries choosing national interests over deep economic ties.

Question 7

What does Daron Acemoglu argue about capitalism and economic outcomes?

Answer 7

Capitalism doesn’t follow universal ‘laws’; historical and institutional contexts shape outcomes

This argument refutes Marx’s prediction of capitalism’s collapse.

Question 8

What barriers to development are identified by Rodrik?

Answer 8

• Weak institutions
• Global trade inequalities
• Economic colonialism by multinational corporations

These factors hinder progress in developing countries.

Question 9

What are two success stories of state-led industrialization?

Answer 9

• South Korea
• China

Both countries have successfully implemented state-led models to boost their economies.

Question 10

What are the main causes of the contemporary global refugee crisis?

Answer 10

• War & conflict
• Economic collapse
• Climate change

These factors drive significant migration patterns.

Question 11

What challenges do host nations face regarding refugees?

Answer 11

• Political backlash
• Economic strain on social services

These challenges can create tensions within host countries.

Question 12

According to Wallerstein, how is the world economy divided?

Answer 12

• Core Nations
• Semi-Periphery
• Periphery

This categorization helps explain global economic dynamics.

Question 13

How do core nations exploit periphery nations?

Answer 13

By extracting wealth through raw material exploitation

An example is African countries exporting raw coffee beans while Europe profits from processed coffee.

Question 14

True or False: Some argue that globalization has enabled periphery nations to develop.

Answer 14

True

An example is China’s rise as a significant global player.

Question 15

Fill in the blank: Globalization creates _______ but also inequality.

Answer 15

[economic growth]

This highlights the dual nature of globalization’s impact.

Question 16

What does capitalism shape according to Acemoglu and Wallerstein?

Answer 16

World economic systems

Their analyses provide insights into the interplay between capitalism and global economics.

Question 17

What drives migration and refugee movements according to Bazirake?

Answer 17

Economic, political, and climate crises

These factors are interconnected and contribute to global migration trends.

Question 18

What intersection does migration and refugees have with global issues?

Answer 18

Global inequality

Migration often reflects broader global disparities.

Question 19

What is globalization?

Answer 19

Globalization is the process of increased interconnectedness and interdependence among countries, primarily in economic, cultural, and political spheres.

Question 20

True or False: Globalization has only positive effects on local economies.

Answer 20

False

Question 21

What is economic inequality?

Answer 21

Economic inequality refers to the unequal distribution of income and opportunity between different groups in society.

Question 22

Fill in the blank: The __________ theory explains how global economic disparities are maintained through historical and structural conditions.

Answer 22

dependency

Question 23

What does the World System Theory propose?

Answer 23

World System Theory proposes that there is a world economic system that transcends individual countries and is divided into core, semi-periphery, and periphery nations.

Question 24

Which countries are typically classified as core nations in World System Theory?

Answer 24

Core nations are typically developed countries with strong economies and technological advancements, such as the United States, Germany, and Japan.

Question 25

True or False: Dependency Theory argues that developing countries are dependent on developed countries for economic growth.

Answer 25

True

Question 26

What is the refugee crisis?

Answer 26

The refugee crisis refers to the large-scale displacement of people fleeing conflict, persecution, or disasters, often leading to humanitarian emergencies.

Question 27

Multiple Choice: Which of the following is a direct consequence of globalization? A) Increased cultural exchange B) Decreased trade C) Isolation of nations D) None of the above

Answer 27

A) Increased cultural exchange

Question 28

What are some factors contributing to economic inequality?

Answer 28

Factors include unequal access to education, healthcare, employment opportunities, and systemic discrimination.

Question 29

Fill in the blank: According to World System Theory, periphery nations are often exploited for their __________.

Answer 29

resources

Question 30

True or False: Economic inequality is solely a national issue.

Answer 30

False

Question 31

What role do multinational corporations play in globalization?

Answer 31

Multinational corporations drive globalization by investing in and operating across multiple countries, influencing local economies and labor markets.

Question 32

Multiple Choice: Which of the following is NOT a potential impact of the refugee crisis? A) Strain on host countries B) Increased cultural diversity C) Economic growth in host countries D) Rise in xenophobia

Answer 32

C) Economic growth in host countries

Question 33

What is one criticism of dependency theory?

Answer 33

One criticism is that it oversimplifies the complexities of economic relationships and ignores the potential for development within peripheral nations.

Question 34

Fill in the blank: Globalization can lead to __________ of local cultures.

Answer 34

homogenization

Question 35

True or False: The concept of 'global citizenship' is promoted by globalization.

Answer 35

True

Question 36

What is one way to measure economic inequality?

Answer 36

Economic inequality can be measured using the Gini coefficient, which quantifies income distribution within a population.

Question 37

Multiple Choice: Which of the following is a core nation? A) Brazil B) Nigeria C) Canada D) Bangladesh

Answer 37

C) Canada

Question 38

What is a primary cause of the refugee crisis?

Answer 38

Primary causes include armed conflict, persecution based on race, religion, or political beliefs, and natural disasters.

Question 39

Fill in the blank: The __________ model suggests that economic development is hindered by external forces and dependence.

Answer 39

dependency

Question 40

True or False: Globalization has no effect on local job markets.

Answer 40

False

Question 41

What is the relationship between globalization and economic inequality?

Answer 41

Globalization can exacerbate economic inequality by benefiting wealthier nations and individuals while marginalizing poorer ones.

Question 42

Multiple Choice: Which of the following best describes the semi-periphery in World System Theory? A) Economically advanced B) Underdeveloped C) Emerging economies D) None of the above

Answer 42

C) Emerging economies

Question 43

What is a common response of host countries to the influx of refugees?

Answer 43

Common responses include implementing immigration policies, providing humanitarian aid, and facing social and economic challenges.

Question 44

What is neoliberalism?

Answer 44

Neoliberalism is an economic and political ideology that emphasizes free markets, deregulation, and reduction in government spending.

Question 45

True or False: Neoliberalism advocates for increased government intervention in the economy.

Answer 45

False

Question 46

Fill in the blank: Neoliberalism is often associated with the policies of ______ and ______ in the late 20th century.

Answer 46

Ronald Reagan, Margaret Thatcher

Question 47

What is market fundamentalism?

Answer 47

Market fundamentalism is the belief that free markets can solve all economic and social problems without government intervention.

Question 48

Multiple Choice: Which of the following is a core principle of neoliberalism? A) State ownership of industries B) Free trade C) Increased regulation D) Universal healthcare

Answer 48

B) Free trade

Question 49

What does market colonialism refer to?

Answer 49

Market colonialism refers to the imposition of free market principles on developing countries, often undermining local economies and cultures.

Question 50

True or False: Neoliberal policies have been universally beneficial for all economies.

Answer 50

False

Question 51

Fill in the blank: Neoliberalism often leads to increased ______ and ______ inequality.

Answer 51

economic, social

Question 52

What role do international financial institutions play in neoliberalism?

Answer 52

International financial institutions like the IMF and World Bank promote neoliberal policies through loans and structural adjustment programs.

Question 53

Multiple Choice: Which of the following is NOT a characteristic of neoliberalism? A) Privatization B) Deregulation C) Protectionism D) Free trade

Answer 53

C) Protectionism

Question 54

What is the relationship between neoliberalism and globalization?

Answer 54

Neoliberalism promotes globalization by advocating for free trade and open markets across borders.

Question 55

True or False: Neoliberalism supports strong social safety nets.

Answer 55

False

Question 56

Fill in the blank: Neoliberalism often results in the ______ of public services.

Answer 56

privatization

Question 57

What is the impact of neoliberalism on labor rights?

Answer 57

Neoliberalism often weakens labor rights by promoting flexible labor markets and reducing protections for workers.

Question 58

Multiple Choice: Which ideology is often contrasted with neoliberalism? A) Socialism B) Capitalism C) Feudalism D) Mercantilism

Answer 58

A) Socialism

Question 59

What is one criticism of market fundamentalism?

Answer 59

One criticism is that it overlooks the social and environmental consequences of unregulated markets.

Question 60

Fill in the blank: Market colonialism can lead to the ______ of local cultures and economies.

Answer 60

erosion

Question 61

True or False: Neoliberalism has been embraced by both left and right political parties.

Answer 61

True

Question 62

What is the role of technology in neoliberalism?

Answer 62

Technology is often seen as a driver of efficiency and innovation, facilitating market expansion and competition.

Question 63

Multiple Choice: Which of the following is a potential negative outcome of neoliberal policies? A) Economic growth B) Increased inequality C) Job creation D) Improved public services

Answer 63

B) Increased inequality

Question 64

What does the term 'austerity measures' refer to in the context of neoliberalism?

Answer 64

Austerity measures refer to policies aimed at reducing government deficits through spending cuts, often impacting social services.

Question 65

Fill in the blank: Neoliberalism often prioritizes ______ over social welfare.

Answer 65

profit

Question 66

What is the significance of deregulation in neoliberalism?

Answer 66

Deregulation is significant as it reduces governmental control over markets, allowing for greater competition and market forces to dictate outcomes.

Question 67

True or False: Neoliberalism encourages local entrepreneurship and small businesses.

Answer 67

False

Question 68

What is a common argument made by proponents of neoliberalism?

Answer 68

Proponents argue that neoliberal policies lead to economic growth and increased efficiency in markets.

Question 69

What is import substitution?

Answer 69

Import substitution is an economic policy that advocates for replacing foreign imports with domestic production.

Question 70

True or False: Import substitution is primarily associated with free trade policies.

Answer 70

False

Question 71

Fill in the blank: Import substitution is often implemented in response to __________.

Answer 71

trade deficits

Question 72

Which of the following is a potential benefit of import substitution? A) Increased domestic employment B) Decreased local production C) Greater dependence on foreign goods

Answer 72

A) Increased domestic employment

Question 73

What economic system is most closely associated with import substitution policies?

Answer 73

Capitalism