Question 1

Managing unemployment is a central feature of fiscal policy.

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Question 2

Inflation is often kept in check by the implementation of targeted interest rates.

Accepted Answer

Central banks often adjust interest rates to control inflation. Raising interest rates can help reduce inflation by discouraging borrowing and spending, while lowering rates can stimulate borrowing and spending, potentially increasing inflation.

Question 3

Countries with capitalist economies are unable to smooth out the highs and lows of boom and bust cycles.

Accepted Answer

Countries with capitalist economies can implement monetary and fiscal policies to mitigate the effects of economic cycles, although they may not eliminate them entirely.

Question 4

In comparative political economy, states form the context in which political and economic actors interact.

Accepted Answer

In comparative political economy, states indeed form the context within which political and economic actors interact, as they establish the legal and regulatory frameworks that govern these interactions.

Question 5

What are some of the similarities and differences between the various economic systems that have been adopted and are in use around the world? What are the social and political implications?

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Question 6

In what ways can states (governments) affect their economies? Why might they pursue those options, and what are the consequences of those actions?

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Question 7

Consider the impact of economic inequality for politics and society. What are some of the methods used to assess inequality? Prescribe a policy or set of policies that you think could be the most effective at ameliorating inequality, and why.

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Question 8

Is democracy a good or bad thing for economic growth and development? Why?

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Question 9

Does economic development encourage democratization (a growth in democracy)? How and why-or how and why not? Consider the different policies that states can adopt to affect the economy, the impact of regime types, and real world examples to support your argument.

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Quiz 10: Political Economy