Deck 1: Introduction

Question 1

"Market Failure" refers to what set of circumstances?

A) Where the market fails to provide social welfare benefits.
B) Where the market tanks due to speculation.
C) Where political decisions cause markets to fail.
D) Where the market fails to provide an optimal allocation of resources.

Answer 1

C

Question 2

Theorists who emphasize the fact that international relations is a "self-help" system are most often

A) historical materialists.
B) liberals.
C) Keynesians.
D) neomercantilists.

Answer 2

D

Question 3

Globalization

A) has caused the state to be superseded as the principle actor in IR.
B) declined in the period between World Wars I and II.
C) is a uniform process throughout the world.
D) is a relatively new phenomenon.

Answer 3

B

Question 4

Populism generally refers to

A) the rise in popularity of a political leader
B) the sycophantic behavior of a political leader's advisors
C) the rise of a charismatic leader who promises to address grievances
D) the takeover of a political party by a singular leader

Question 5

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

A) gross national product.
B) gross domestic product.
C) gross domestic income.
D) gross national income.

Question 6

Realists tend to focus on absolute gains in the international system.

Question 7

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

Question 8

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

Question 9

China's GDP per capita has been increasing rapidly, and is approaching the levels of the major DCs.

Question 10

Neomercantilists who view one state's gain as another state's loss tend to see IPE as a ______________ .

Question 11

A coordinating mechanism where buyers and sellers exchange goods and services at prices determined by supply and demand is a ______________ .

Question 12

A sovereign territorial unit is a______________ .

Question 13

When a market does not produce an optimal allocation of resources, we refer to this as____________________.

Question 14

Name one of the two parts of the UK that voted to remain in the European Union during the Brexit referendum.

Question 15

What countries does the acronym BRICS stand for?

Question 16

Consider the aspects of "economism" and "politicism" as questions about bias by political scientists and economists in their approaches to political economy. What does each mean by the terms? Can you think of a concrete example of each? Take, for example, the case of a financial crash. What does this reveal about the true nature of political economy?

Question 17

Why is theory important in the study of IPE? Is it possible to study the facts in IPE without theorizing?

Question 18

Consider the issue of globalization. What would be ways to measure whether it is increasing or decreasing? How might key actors in the international system, such as governments, international organizations, MNCs, and NGOs view different levels of globalization as a positive or negative outcome?

Question 19

Discuss what you think would be the pros and cons of trying to develop a single all-embracing theory of international political economy.

Question 20

Discuss and evaluate the key factors considered responsible for Brexit.

Question 21

What were some of the actions of the Trump Administration in regard to trade policy and what were the immediate impacts?