Question 1

Neoliberalism is a unique blend of liberal,conservative,and socialist ideals that allows for individual merit,individual success,and the eventual redistribution of wealth for the collective well-being of society through Keynesian economic processes.

Accepted Answer

Neoliberalism prioritizes individualism, free markets, and deregulation, and does not typically support Keynesian economic processes or wealth redistribution.

Question 2

Financial institutions such the World Bank,the International Monetary Fund,the General Agreement on Tariffs and Trade,and the World Trade Organization were created to control the transfer of funds to nations that were wavering between joining the Soviet bloc and democratically led nations.

Accepted Answer

These institutions were primarily established to foster global economic stability, facilitate international trade, and promote economic development, rather than to control the transfer of funds based on political alignment.

Question 3

The power of nation states has been transferred completely to regional trade bodies.

Accepted Answer

While regional trade bodies such as the European Union and NAFTA have gained influence in certain areas, the power of nation states has not been completely transferred to them. Nation states still retain many powers and responsibilities, including control over their own borders, military, and domestic policies.

Question 4

Neoliberalism is an economic philosophy which links high tariffs to prosperity and democracy.

Accepted Answer

Neoliberalism actually promotes free trade and an unrestricted market economy, with minimal government intervention. It does not link high tariffs to prosperity and democracy.

Question 5

Social analysts agree that income inequality between nations is quickly becoming a problem of the past.

Accepted Answer

While progress has been made in reducing income inequality between some nations, there are still significant disparities between the world's wealthiest and poorest countries, making income inequality a persistent and urgent problem.

Question 6

According to the criteria set out in the text regarding core nations,which country would be deemed a core nation?

Accepted Answer

Core nations are typically industrialized, capitalist and have a high standard of living. England fits this criteria as it has a long history of industrialization and is one of the world's leading financial centers.

Question 7

The World Trade Organization was created after World War II in an effort to stabilize flows of international currency.

Accepted Answer

The World Trade Organization (WTO) was created in 1995 to promote free and fair trade among countries. The International Monetary Fund (IMF) was actually established after World War II in 1944 to stabilize international currency flows.

Question 8

Tourism has influenced globalization.

Accepted Answer

Tourism has contributed to the growth of global interconnectedness by promoting cultural exchange, stimulating economic growth and creating jobs in local communities, and facilitating the movement of people and ideas across borders. Therefore, it has played a significant role in the process of globalization.

Question 9

France and Germany exert control over world trade and both have high levels of urbanization.As such,which term best describes these nations?

Accepted Answer

France and Germany are both considered core countries in the world economic system due to their dominant role in global trade and high levels of economic development and urbanization. Peripheral countries are typically less developed and have lower levels of global influence, whereas middle income countries may be rapidly developing but are not yet at the same level of economic and political power as core countries. Transnational is not a relevant term in this context.

Question 10

Within the language of global systems theories,which type of nation is most vulnerable when globalization is underway?

Accepted Answer

The answer of Within the language of global systems theories,which...

Question 11

Which theory argues that the nations that were the first to industrialize exploited other countries and turned them into the mines and plantations of the developed world?

Accepted Answer

The theory that argues that the nations that were the first to industrialize exploited other countries and turned them into the mines and plantations of the developed world is dependency theory. This theory argues that the development of the Global North was built on the underdevelopment of the Global South, which was exploited for its resources and cheap labor. Dependency theory emphasizes the structural relationships between countries and focuses on how the Global South is dependent on the Global North for economic growth and development.

Question 12

According to Wallerstein,which term refers to those nations that typically provide labour and raw material to heavily industrialized,technologically advanced nations?

Accepted Answer

The answer of According to Wallerstein,which term refers to those...

Question 13

Globality is most properly understood as a social process.

Accepted Answer

The answer of Globality is most properly understood as a...

Question 14

Globalization has led to a decline in the power of nation-states.

Accepted Answer

Globalization has resulted in the growth of supranational organizations and the emergence of economic interdependence, which has weakened the sovereignty and control of nation-states over their domestic affairs. Therefore, it can be argued that globalization has led to a decline in the power of nation-states.

Question 15

The notion of individual merit is a key aspect of neoliberalism.The text notes that the "fittest" will rise to positions of power and management that require specific expertise and skills and that the weak will accept lesser positions in the productive schema of a nation.

Accepted Answer

The text states that individual merit is a key aspect of neoliberalism and that the most skilled and capable individuals will rise to positions of power and management, while those who are less capable will occupy lower positions in society. This reflects the neoliberal belief in competition and the market determining success.

Question 16

The International Labour Organization (ILO)is a tripartite agency of the United Nations that gives equal voice to workers,employers,and governments in shaping policies and programs related to labour standards.

Accepted Answer

The statement accurately describes the role and structure of the International Labour Organization (ILO).

Question 17

Global civil society benefits when power is transferred unilaterally to nation-states through the social condition of globality.

Accepted Answer

Global civil society benefits from a multipolar world order, where power is shared between nation-states and international institutions. Unilateral transfer of power to nation-states can lead to a concentration of power and a lack of accountability, which can undermine the interests of global civil society.

Question 18

Which theoretical framework argues that underdeveloped nations are responsible for their own lack of development?

Accepted Answer

Modernization theory argues that underdeveloped nations are responsible for their own lack of development. This theory suggests that traditional societies need to adopt modern ways of living and that Western industrialization is the model to follow for economic growth and development.

Question 19

The "race to the bottom" is primarily motivated by efforts to increase corporate profits.

Accepted Answer

The "race to the bottom" is a term used to describe the phenomenon of companies competing with one another by lowering labor standards, environmental protections, and tax rates in order to reduce costs and increase profits. Therefore, the primary motivation behind the "race to the bottom" is to increase corporate profits.

Question 20

What consequence of the world systems theory is exemplified by Mexico-US relations?

Accepted Answer

Mexico's relationship with the United States exemplifies how economic ties with core nations can increase disparity between the rich and the poor within major cities. Mexico is considered a peripheral nation in the world systems theory and is heavily dependent on trade with the US, which fuels urban growth but also leads to stratification and inequality within Mexican cities. This highlights the unequal power dynamics and dependencies between core and peripheral nations in the global capitalist economy.

Quiz 15: Globalization: the Interconnected World