Ireland in the global economy topic 2

Question 1

Which of the following best describes Ireland’s economic development during the late 19th century?
A) Highly inward-looking with strong protectionist policies
B) Strong economic performance with high labour mobility
C) Fully industrialized economy with large exports
D) Decline in trade and isolation from global markets

Answer 1

B) Strong economic performance with high labour mobility

Question 2

What was a key motivation for Irish independence in economic terms?
A) Integration with the European Union
B) Pursuit of more inward-looking economic policies
C) Opening up to global trade and foreign investment
D) Creation of multinational corporations

Answer 2

B) Pursuit of more inward-looking economic policies

Question 3

Which phase of globalisation is associated with the period after World War II to the present?
A) Phase I: Increasing globalisation (mid-19th Century to 1914)
B) Phase II: De-globalisation (1914 to 1945)
C) Phase III: Re-globalisation and hyper-globalisation (Post-WWII onwards)
D) Phase IV: Total isolation

Answer 3

C) Phase III: Re-globalisation and hyper-globalisation (Post-WWII onwards)

Question 4

What economic strategy did Ireland shift towards in the post-1950s era?
A) Isolation from global markets
B) Reliance on local agricultural production
C) Openness and tight integration with global markets
D) Full protectionism and tariffs on imports

Answer 4

C) Openness and tight integration with global markets

Question 5

What major economic event prompted Ireland’s sustained economic growth and integration with globalisation?
A) Adoption of protectionist policies in the 1930s
B) Joining the European Union and embracing an open economy
C) Transition to a fully agrarian economy
D) Implementation of high tariffs and trade barriers

Answer 5

B) Joining the European Union and embracing an open economy

Question 6

Which of the following is a key challenge Ireland faces in the context of de-globalisation and geo-fragmentation?
A) Over-reliance on agricultural exports
B) Disruption of foreign direct investment (FDI)
C) Total isolation from the global economy
D) Strengthened international governance over global trade

Answer 6

B) Disruption of foreign direct investment (FDI)

Question 7

What is the likely impact of “near-shoring” trends driven by climate and security concerns on Ireland?
A) It will increase FDI in Ireland
B) It may lead to pressures on inward FDI
C) It will strengthen Ireland’s agricultural sector
D) It will have no impact on Ireland’s economy

Answer 7

B) It may lead to pressures on inward FDI

Question 8

Dani Rodrik’s ‘globalisation trilemma’ suggests that countries can only achieve two of the following three goals simultaneously. Which is NOT one of these goals?
A) National sovereignty
B) Global economic integration
C) Protectionist trade policies
D) Democratic politics

Answer 8

C) Protectionist trade policies

Question 9

What are Ireland’s main concerns regarding the European Union’s recent relaxation of state aid rules?
A) Ireland could lose its comparative advantage in attracting FDI
B) Ireland’s economy will become too dependent on state subsidies
C) The EU will require Ireland to increase its military spending
D) It will enhance competition in the local market

Answer 9

A) Ireland could lose its comparative advantage in attracting FDI

Question 10

How did Ireland’s economic policies from the 1930s to the 1950s affect its growth?
A) These policies were highly successful in fostering economic development
B) They led to sustained economic growth and stability
C) They were largely inward-looking and failed to promote growth
D) They integrated Ireland more closely with the global economy

Answer 10

C) They were largely inward-looking and failed to promote growth

Question 11

What is the “first phase” of globalisation typically associated with?
a) The rise of digital technology
b) Increasing globalisation from mid-19th century to 1914
c) Post-WWII global institutions
d) The 2008 global financial crisis

Answer 11

b) Increasing globalisation from mid-19th century to 1914

Question 12

Which of the following best describes “hyper-globalisation”?
a) The period between 1914 and 1945
b) Rapid globalisation from the 1990s to the 2008 crisis
c) The de-globalisation that followed the 2008 financial crisis
d) The re-globalisation after WWII

Answer 12

b) Rapid globalisation from the 1990s to the 2008 crisis

Question 13

Ireland’s economic success in recent years is most attributed to:
a) Inward-looking protectionist policies
b) Tight integration with a globalising world
c) Economic policies focused solely on domestic markets
d) Trade only with the United States

Answer 13

b) Tight integration with a globalising world

Question 14

During Phase I of globalisation, how did Ireland’s labour mobility compare to other countries?
a) Very high
b) Very low
c) Similar to other developed countries
d) Did not exist

Answer 14

a) Very high

Question 15

What was a key motivation for Ireland’s independence in the 1930s?
a) Strong economic performance
b) National sovereignty and economic development
c) Rapid industrialisation
d) Integration into the European Union

Answer 15

b) National sovereignty and economic development

Question 16

Ireland’s economic policies after gaining independence were generally:
a) Open and globally integrated
b) Focused on agricultural development
c) Inward-looking and protectionist
d) Entirely dependent on multinational corporations

Answer 16

c) Inward-looking and protectionist

Question 17

The 2008 financial crisis is associated with which phase of globalisation?
a) Hyper-globalisation
b) Pre-WWII de-globalisation
c) The first phase of globalisation
d) The beginning of the digital global economy

Answer 17

a) Hyper-globalisation

Question 18

What impact did Ireland’s integration into the EU have on its economy?
a) It stagnated growth
b) It created rapid economic growth
c) It reduced foreign investment
d) It isolated Ireland from global trade

Answer 18

b) It created rapid economic growth

Question 19

One key challenge for Ireland’s economy in the context of globalisation is:
a) Too much reliance on agriculture
b) Dependency on multinational corporations
c) Lack of foreign direct investment
d) Limited access to European markets

Answer 19

b) Dependency on multinational corporations

Question 20

What does Dani Rodrik’s “globalisation trilemma” focus on?
a) Managing climate change, economic growth, and unemployment
b) Balancing globalisation, democracy, and national sovereignty
c) Decoupling from global trade systems
d) Balancing financial deregulation, growth, and protectionism

Answer 20

b) Balancing globalisation, democracy, and national sovereignty

Question 21

“Geo-fragmentation” refers to:
a) The creation of stronger global financial markets
b) The fragmentation of the global economic system into regional blocs
c) The integration of digital markets globally
d) Increasing immigration across the EU

Answer 21

b) The fragmentation of the global economic system into regional blocs

Question 22

How has the relaxation of EU “state aid” policy impacted Ireland?
a) It has increased competition for FDI
b) It has reduced Ireland’s ability to provide subsidies
c) It led to the exit of Ireland from the EU
d) It allowed Ireland to out-compete other European nations

Answer 22

a) It has increased competition for FDI

Question 23

What is a significant risk for Ireland due to “near-shoring” and “decoupling” trends?
a) Increased unemployment
b) Reduced inward foreign direct investment (FDI)
c) Loss of agricultural dominance
d) Increased trade with non-EU countries

Answer 23

b) Reduced inward foreign direct investment (FDI)

Question 24

Which sector is Ireland heavily reliant on for its economic growth?
a) Manufacturing
b) Multinational corporations and FDI
c) Domestic agriculture
d) Construction

Answer 24

b) Multinational corporations and FDI

Question 25

What was a key feature of Ireland’s economic recovery post-2008?
a) Adoption of protectionist policies
b) Tight integration with global markets
c) Expansion into non-EU trade
d) Strict regulation of foreign investment

Answer 25

b) Tight integration with global markets

Question 26

What are some potential disadvantages for Ireland due to “geo-fragmentation”?
a) Difficulty in managing population growth
b) Pressure on inward foreign direct investment (FDI)
c) Increased international collaboration
d) Reduced labour mobility

Answer 26

b) Pressure on inward foreign direct investment (FDI)

Question 27

What might a relaxation in EU “state aid” rules lead to for Ireland?
a) Increased access to EU funding
b) A subsidy race that disadvantages Ireland
c) Higher levels of FDI into Ireland
d) Greater competition within Ireland’s domestic industries

Answer 27

b) A subsidy race that disadvantages Ireland

Question 28

Ireland’s vulnerability to macro-crises such as the 2008 financial crisis is heightened by:
a) Over-reliance on agricultural production
b) High integration with global financial systems
c) Low levels of foreign direct investment
d) Lack of a monetary union

Answer 28

b) High integration with global financial systems

Question 29

What role does the adoption of the Euro play in Ireland’s economy?
a) It provides financial stability but limits independent monetary policy
b) It allows for higher tax revenues from multinational corporations
c) It reduces Ireland’s competitiveness in global markets
d) It fosters de-globalisation

Answer 29

a) It provides financial stability but limits independent monetary policy