Quiz 1 Study Guide

Question 1

“Market Failure” refers to what set of circumstances?

Answer 1

Where the market fails to provide an optimal allocation of resources

Question 2

Globalization

Answer 2

Has caused the state to be superseded as the principle actor in IR

Question 3

The total value of goods and services produced by domestically owned factors of production in a given year is the

Answer 3

Gross Domestic Product (GDP)

Question 4

Realists tend to focus on absolute gains in the international system

Answer 4

False

Question 5

The gross national income and gross domestic product are virtually the same

Answer 5

False

Question 6

Brexit refers to the negotiated exit of the UK from the European Union in 2019

Answer 6

False

Question 7

Who is most closely associated with the concept of levels of analysis?

Answer 7

Kenneth Waltz

Question 8

Which of the following is mismatched when it comes to the levels of analysis?

Answer 8

President Trump’s outlook on climate change: the state-society level

Question 9

Which level of analysis would focus on the actions of different national legislatures when it comes to dealing with the global financial crisis?

Answer 9

The System/global level/”Third Image” (international)

Question 10

Neomercantilists

Answer 10

Give priority to economics over politics

Question 11

Economic though and practice in Europe from about 1500 to 1750 that emphasized national power and contributed to state building, is referred to as

Answer 11

Mercantilism

Question 12

Neomercantilists emphasize

Answer 12

relative gains

Question 13

Neomercantilists view globalization as

Answer 13

having limited effect on the international political structures

Question 14

Friedrich List

Answer 14

Viewed free trade as valuable in the long term for countries that had gained industrial supremacy

Question 14

Compared with Marxists, neomercantilists are more likely to

Answer 14

be economistic

Question 15

The revival of neomercantilism as an IPE perspective in the 1970s and 1980s stemmed partly from

Answer 15

Increasing disarray in the global economy related to U.S. economic challenges

Question 16

Hegemonic stability theorists believe that

Answer 16

economic openness and stability cannot be maintained in the absence of a global hegemon

Question 17

The free rider problem refers to:

Answer 17

When users benefit but do not help pay for the costs of a public good

Question 18

Pure public goods are:

Answer 18

non-rival and non-excludable

Question 19

Compared with liberals, neomercantilists are more likely to

Answer 19

See hegemony as having mixed motives

Question 20

Marxists are more likely to see hegemony as having what attributes

Answer 20

coercive

Question 21

As compared with liberals, neomercantilists are more likely to

Answer 21

see hegemony as having mixed motives

Question 22

Neomercantilism is the IPE counterpart of realism

Answer 22

true

Question 23

Hegemonic stability theorists argue that in the interwar period

Answer 23

The United States was not yet willing to be the global hegemon

Question 24

Neomercantilists focus on unequal gains from trade

Answer 24

false

Question 25

Adam Smith

Answer 25

supported laissez-faire policies that opposed any government intervention

Question 26

Keynesians have what view of deficit spending?

Answer 26

Indicates that postwar efforts to maintain an open liberal international economy were embedded in institutions to ensure that there were global regulations

Question 27

Economic thought and practice in Europe from about 1500 to 1750 that emphasized national power and contributed to state building, is referred to as

Answer 27

Mercantilism

Question 28

Liberals tend to view economics and politics as separate and autonomous spheres of activity

Answer 28

True

Question 29

Embedded liberalism can be summed up in which of the following statements?

Answer 29

International markets should be subject to political regulations in order to protect domestic social interests

Question 30

Neomercantilists are more skeptical than liberals that states can move to Pareto-optimal outcomes in Prisoner’s Dilemma because

Answer 30

they believe that prisoner’s gains and losses are not likely to be balanced and equitable

Question 31

In Liberalism “economics leads politics”

Answer 31

True

Question 32

What is the important term that refers to the uneasy compromise made by liberals interference to the postwar balance between an open liberal international economy, and social efforts to promote domestic security and stability for individuals?

Answer 32

embedded liberalism

Question 33

In the liberal view today, a hegemon is

Answer 33

a rich and powerful state that supplies the international public goods necessary for peaceful and prosperous global economy

Question 34

Adam Smith favored “laissez-faire” policies, where individuals, guided by the “invisible-hand”, would produce social benefits. The invisible hand stands for

Answer 34

individual self-interest and choices

Question 35

John Stuart Mill is most noted for changing Liberalism to reflect

Answer 35

The selective state action is needed when individual inadequately promotes social welfare

Question 36

Which of the following nations have at various times used strongly neomercantilist policies to achieve economic growth in the post World War ll era

Answer 36

Japan, South Korea, China (All of the above)

Question 37

Which is the best statement of the relationship between wealth and power according to the mercantilist thought?

Answer 37

National wealth creates national power, and national power secures national wealth

Question 38

The best collective outcome in a prisoner’s dilemma is an outcome that represents a

Answer 38

Pareto Improvement (“Pareto Optimal” outcome)

Question 39

Marx wrote that class struggles

Answer 39

begin with capitalism

Question 40

Differences between structural Marxists and neomercantilists include the fact that neomercantilists view that state as

Answer 40

Futhering the national interest

Question 41

The greens often

Answer 41

Argue that economic growth can cause global environmental problems

Question 42

Unlike dependency theory, world-system theory

Answer 42

views development as possible for LDCs, even if it is dependent development

Question 43

Marxists agree that capitalism needs to be stopped before socialism can built

Answer 43

true

Question 44

Goods such as air, water, and outer space that are rival but non excludable are called

Answer 44

common pool resources

Question 45

Economic thought and practice in Europe from about 1500 to 1750 that emphasized national power and contributed to state building, is referred to as

Answer 45

mercantilism