Vocabulary

Question 1

egalitarian

Answer 1

believing in or based on the principle that all people are equal and deserve equal rights and opportunities.

Question 2

neo-liberal economists

Answer 2

Neoliberalism is contemporarily used to refer to market-oriented reform policies such as “eliminating price controls, deregulating capital markets, lowering trade barriers” and reducing, especially through privatization and austerity, state influence in the economy.

Question 3

Neoclassical economics

Answer 3

Neoclassical economics is an approach to economics in which the production, consumption, and valuation of goods and services are observed as driven by the supply and demand model.

Question 4

myopia

Answer 4

lack of foresight or intellectual insight.

Question 5

Suffrage

Answer 5

The right to vote in political elections

Question 6

nationalism

Answer 6

identification with one’s own nation and support for its interests, especially to the exclusion or detriment of the interests of other nations.

Question 7

Polity

Answer 7

a form or process of civil government or constitution.

an organized society; a state as a political entity.

Question 8

Perennially

Answer 8

in a way that continues for a long or apparently infinite time; permanently.

Question 9

Confounded

Answer 9

used for emphasis, especially to express anger or annoyance.

Question 10

Repudiate

Answer 10

deny the truth or validity of.

Question 11

Devolution

Answer 11

the transfer or delegation of power to a lower level, especially by central government to local or regional administration.

Question 12

Constitution

Answer 12

a body of fundamental principles or established precedents according to which a state or other organization is acknowledged to be governed.

Question 13

verities

Answer 13

a true principle or belief, especially one of fundamental importance.

Question 14

Esconced

Answer 14

establish or settle (someone) in a comfortable, safe place.