Test 2

Question 1

When did capitalism start in the US

Answer 1

1815

Question 2

James Madison thought what

Answer 2

people would always act in their self interests

Question 3

What did James Madison propose for the US government

Answer 3

a system of checks and balances

Question 4

what type of freedom did Alexander Hamilton want

Answer 4

positive freedom (government intervention)

Question 5

what type of freedom did Thomas Jefferson believe in

Answer 5

negative freedom (free from government intervention)

Question 6

what was roosevelts argument

Answer 6

said government and businesses should work hand in hand

Question 7

what was woodrow willsons argument

Answer 7

said businesses would end up controlling regulatory agencies by means of government. favored heavy anti-trust laws

Question 8

what is the new deal

Answer 8

1. turned America into a welfare state (social security)
2. kensyian economic spending
3. mandated minimum wage
4. allowed unions to negotiate

Question 9

what is bretton woods

Answer 9

meeting that created the IMF. Debts settled in US dollar. Increased trade around the world

Question 10

what is stagflation

Answer 10

when prices rise even though consumption is low (happens because of supply side shock)

Question 11

what is machine politics

Answer 11

a political system built on patronage and clientelism

Question 12

what did the great society introduce

Answer 12

medicaid and medicare (high inflation during vietnam war)

Question 13

what is Britain known for

Answer 13

being the first capitalist and industrial country

Question 14

during the 19th century did the british have economic dominance

Answer 14

yes

Question 15

what did thomas mathlus say

Answer 15

that human growth will exceed agricultural growth and lead to famine unless checked by moral restraint or natural disaster

Question 16

what were some reasons for british economic failure

Answer 16

1. too much foreign investment
2. labor resistance
3. lagged behind updating new technology

Question 17

what is the big concept of Fabian Socialism

Answer 17

Socialism through the ballot box instead of revolution

Question 18

what do fabian socialists want

Answer 18

1. national insurance programs
2. abolition of capitalism
3. state control of coal and steel mines

Question 19

when did the fabian socialists come into power in british parliament

Answer 19

after world war 1

Question 20

what is the name of the british conservative party

Answer 20

tory

Question 21

who was clement atlee

Answer 21

british prime minister after WW2 (after Churchill)

Question 22

what party was clement atlee apart of

Answer 22

labour (liberal) party

Question 23

what policy did clement atlee wan to implement

Answer 23

1. healthcare and unemployment benefits and pensions
2. supported industries that were failing (this would end up being a problem)

Question 24

who was margrett thatcher

Answer 24

conservative party prime minister in the 70s and 80s

Question 25

what was margrett thatchers ideology

Answer 25

1. you can spend but not all the time
2. said incentive structure was wrong (heavy welfare state undermines entrepreneurial spirit)

Question 26

what did margret thatcher achieve

Answer 26

she brought down inflation in the 80s

Question 27

what are the main aspects of neoliberalism

Answer 27

1. privatized public functions
2. tax reforms and weakening labor unions
3. incentivizing people to work

Question 28

what is the third way

Answer 28

ideology that is in between conservative and socialism (government should assist the market more than hinder it)

Question 29

what year was the french revolution

Answer 29

1789

Question 30

characteristics of french evolution

Answer 30

1.did not have the same democratic vigor as US or britian
2. very polarized

Question 31

France after WW2 chronology

Answer 31

1. had 30 glorious years
2. 1975 went opposite of US and introduced socialism
3. collaborated with right to have a welfare state

Question 32

what is the capital of Nigeria

Answer 32

abuja

Question 33

what is the one thing to remember about nigeria

Answer 33

they are very corrupt

Question 34

what is the important thing to remember about Mexico

Answer 34

hyperclientelistic and revolution of 1911 led to a one party system