MCQ TEST topic 2 Flashcards
What is the main argument of O’Rourke’s article regarding Ireland’s economic history?
Ireland’s economic history was not unusual and often mirrored broader European trends
According to O’Rourke, how did Ireland benefit from European Community (EC) membership in 1973?
It reduced Ireland’s dependence on the poorly performing UK economy.
Which historical event does O’Rourke highlight as a tragic and unusual economic crisis for Ireland in the 19th century?
The Irish Potato Famine
What was one major factor that helped Ireland’s economic recovery in the late 20th century?
Foreign direct investment (FDI) aimed at European markets
Why does O’Rourke claim Ireland’s initial economic policies post-independence were relatively liberal compared to other countries?
Ireland, unlike other new states, did not implement widespread protectionist measures until later.
Which of the following was a major disadvantage for Ireland’s economy in the early 20th century, according to O’Rourke?
Dependency on a slowly growing UK economy
What was a significant consequence of Irish emigration post-independence, according to the article?
Emigration kept Irish wages relatively high by reducing labor supply.
Which country did O’Rourke compare Ireland’s economic performance to, indicating similarities in post-World War II recovery?
Portugal
What is one of the main concerns addressed in Vasileios Madouros’ article?
The challenges posed by geo-economic fragmentation
How does geo-economic fragmentation affect the global economy, according to the article?
It leads to a rise in protectionist policies and barriers to trade.
Which of the following is a potential consequence of geo-economic fragmentation mentioned by Madouros?
Disruption in global supply chains and trade networks
What role does the concept of ‘resilience’ play in the discussion of geo-economic fragmentation?
It is crucial in helping countries adapt to new economic challenges.
According to the article, how does geo-economic fragmentation influence monetary policy?
It increases the need for tailored domestic monetary responses.
Why does Madouros suggest that the risks of geo-economic fragmentation are particularly significant for emerging markets?
Emerging markets are more reliant on external trade and investment.
What solution does the article propose to navigate the risks of geo-economic fragmentation?
Fostering international cooperation to maintain open markets
