Question 1

What is a public good and why do states provide public goods rather than the market?

Accepted Answer

A good answer will define a public good as being provided and secured by the state, available for all of society and indivisible.A good answer will also note that the market does not always allocate certain goods in a way that society desires, leading to their overuse or depletion.Examples of public goods include roads, health care (though not in the United States), national defense, and primary education.

Question 2

What is a primary tactic used by central banks to combat inflation?

Accepted Answer

A) making credit less expensive 
B) raising interest rates 
C) printing more money 
D) setting lending rates very low 
A) making credit less expensive 
B) raising interest rates 
C) printing more money 
D) setting lending rates very low B

Question 3

The Gini index is one way that social scientists measure

Accepted Answer

A) total national wealth. 
B) the distribution of public goods. 
C) the environmental impact of development. 
D) the amount of economic inequality in a society. 
A) total national wealth. 
B) the distribution of public goods. 
C) the environmental impact of development. 
D) the amount of economic inequality in a society. D

Question 4

Which of the following would be considered a public good in the United States?

Accepted Answer

A) highways 
B) property 
C) gasoline and heating oil 
D) health care 
A) highways 
B) property 
C) gasoline and heating oil 
D) health care

Question 5

In what key ways does social democracy differ from liberalism? In what ways is it similar?

Accepted Answer

A good answer will note that both libera

Question 6

Markets can best be defined as

Accepted Answer

A) government-produced public goods. 
B) the interactions between the forces of supply and demand. 
C) fixed locations where products are bought and sold. 
D) an outmoded form of resource distribution. 
A) government-produced public goods. 
B) the interactions between the forces of supply and demand. 
C) fixed locations where products are bought and sold. 
D) an outmoded form of resource distribution.

Question 7

Liberalism is best associated with which of the following policies?

Accepted Answer

A) free trade 
B) tariff barriers 
C) neocorporatism 
D) elimination of all private property 
A) free trade 
B) tariff barriers 
C) neocorporatism 
D) elimination of all private property

Question 8

What are the relative benefits and drawbacks of using purchasing power parity (PPP), the Gini index, and the Human Development Index to measure relative wealth and inequality across countries?

Accepted Answer

A good answer will note that PPP measure

Question 9

Public goods are best defined as

Accepted Answer

A) goods, provided or secured by the state, that are available for society and indivisible. 
B) goods, provided or secured by the state, that only members of the state and government may use. 
C) any goods that exist beyond the sovereignty of a state's borders. 
D) any goods that exist solely within the sovereignty of a state's borders. 
A) goods, provided or secured by the state, that are available for society and indivisible. 
B) goods, provided or secured by the state, that only members of the state and government may use. 
C) any goods that exist beyond the sovereignty of a state's borders. 
D) any goods that exist solely within the sovereignty of a state's borders.

Question 10

In which of the following ways does using purchasing power parity to calculate GDP differ from the use of straight GDP in measuring a country's economic development?

Accepted Answer

A) It typically elevates measured income for less-developed countries. 
B) It typically elevates measured income for countries with advanced welfare systems. 
C) It typically lowers the overall value of the economy for less-developed countries. 
D) It typically lowers the per capita income in countries regardless of level of development. 
A) It typically elevates measured income for less-developed countries. 
B) It typically elevates measured income for countries with advanced welfare systems. 
C) It typically lowers the overall value of the economy for less-developed countries. 
D) It typically lowers the per capita income in countries regardless of level of development.

Question 11

Which political-economic system accepts a role for private property and market forces but is cautious about their benefits to society?

Accepted Answer

A) social democracy 
B) communism 
C) liberalism 
D) mercantilism 
A) social democracy 
B) communism 
C) liberalism 
D) mercantilism

Question 12

In which of the following ways do both communism and mercantilism differ from liberalism?

Accepted Answer

A) They typically employ relatively low tariff barriers. 
B) The state role in the economy is minimal. 
C) They agree that markets should play a role, if a limited one. 
D) They have more state autonomy and capacity. 
A) They typically employ relatively low tariff barriers. 
B) The state role in the economy is minimal. 
C) They agree that markets should play a role, if a limited one. 
D) They have more state autonomy and capacity.

Question 13

The _______ is in charge of regulating the supply of money in a country.

Accepted Answer

A) national trust 
B) currency board 
C) central bank 
D) federal mint 
A) national trust 
B) currency board 
C) central bank 
D) federal mint

Question 14

What is the oldest of the political-economic systems, and what system first rose to challenge it?

Accepted Answer

A) liberalism, first challenged by communism 
B) mercantilism, first challenged by liberalism 
C) communism, first challenged by social democracy 
D) social democracy, first challenged by mercantilism 
A) liberalism, first challenged by communism 
B) mercantilism, first challenged by liberalism 
C) communism, first challenged by social democracy 
D) social democracy, first challenged by mercantilism

Question 15

What tools do states use in regulating trade with other states? What political-economic systems are most and least likely to impose strict regulations on trade?

Accepted Answer

A good answer will describe the three co

Question 16

Which of the following statements about the state of world liberalization in the twenty-first century is accurate?

Accepted Answer

A) Communism is resurgent in many of the poorest countries in the world. 
B) Political forces that oppose free trade and globalization have grown in Europe and the United States. 
C) The global economic downturn has emboldened proponents of trade liberalization. 
D) The large-scale evaporation of social expenditures has weakened the social democratic model considerably. 
A) Communism is resurgent in many of the poorest countries in the world. 
B) Political forces that oppose free trade and globalization have grown in Europe and the United States. 
C) The global economic downturn has emboldened proponents of trade liberalization. 
D) The large-scale evaporation of social expenditures has weakened the social democratic model considerably.

Question 17

Which of the following statements about mercantilism is accurate?

Accepted Answer

A) Mercantilism involves a greater role for the state in economic policy than communism. 
B) Mercantilism directs the economy toward certain industries and away from others. 
C) Mercantilism mandates that unemployment should be accepted as inevitable. 
D) Mercantilism advocates for a state to intervene in the economy only when crises arise. 
A) Mercantilism involves a greater role for the state in economic policy than communism. 
B) Mercantilism directs the economy toward certain industries and away from others. 
C) Mercantilism mandates that unemployment should be accepted as inevitable. 
D) Mercantilism advocates for a state to intervene in the economy only when crises arise.

Question 18

Which political-economic system views private property as a form of exploitation?

Accepted Answer

A) social democracy 
B) communism 
C) liberalism 
D) mercantilism 
A) social democracy 
B) communism 
C) liberalism 
D) mercantilism

Question 19

Country X has no direct taxation of its people, but citizens are limited in what they can earn because wages are fixed.No matter what a citizen's age or job is, the state provides for his or her health costs, education, and retirement, even though the quality of those services may be low.If a citizen does have cash, he or she can only buy private goods illegally on the black market.This country has what kind of political-economic system?

Accepted Answer

A) communist 
B) liberal 
C) mercantilist 
D) social democratic 
A) communist 
B) liberal 
C) mercantilist 
D) social democratic

Question 20

Which of the following statements about social expenditures is accurate?

Accepted Answer

A) Welfare systems are meant to support community institutions like the family and the church. 
B) In a sense, the welfare state primarily taxes the poor but benefits the middle class. 
C) Expenditures on highways are more likely to benefit the well-off than the poor. 
D) Social expenditures that come in the form of public goods are used mostly by the very poor. 
A) Welfare systems are meant to support community institutions like the family and the church. 
B) In a sense, the welfare state primarily taxes the poor but benefits the middle class. 
C) Expenditures on highways are more likely to benefit the well-off than the poor. 
D) Social expenditures that come in the form of public goods are used mostly by the very poor.

What is a public good and why do states provide public goods rather than the market?

What is a primary tactic used by central banks to combat inflation?

The Gini index is one way that social scientists measure

Which of the following would be considered a public good in the United States?

In what key ways does social democracy differ from liberalism? In what ways is it similar?

Markets can best be defined as

Liberalism is best associated with which of the following policies?

What are the relative benefits and drawbacks of using purchasing power parity (PPP), the Gini index, and the Human Development Index to measure relative wealth and inequality across countries?

Public goods are best defined as

In which of the following ways does using purchasing power parity to calculate GDP differ from the use of straight GDP in measuring a country's economic development?

Which political-economic system accepts a role for private property and market forces but is cautious about their benefits to society?

In which of the following ways do both communism and mercantilism differ from liberalism?

The _______ is in charge of regulating the supply of money in a country.

What is the oldest of the political-economic systems, and what system first rose to challenge it?

What tools do states use in regulating trade with other states? What political-economic systems are most and least likely to impose strict regulations on trade?

Which of the following statements about the state of world liberalization in the twenty-first century is accurate?

Which of the following statements about mercantilism is accurate?

Which political-economic system views private property as a form of exploitation?

Which of the following statements about social expenditures is accurate?

Introduction

States

Nations and Society

Political Violence

Democratic Regimes

Developed Democracies

Nondemocratic Regimes

Communism and Postcommunism

Developing Countries

Globalization and the Future of Comparative Politics

United Kingdom

Russia

China

Iran

Mexico

Nigeria

Filters

Exam 4: Political Economy

What is a public good and why do states provide public goods rather than the market?

What is a primary tactic used by central banks to combat inflation?

The Gini index is one way that social scientists measure

Which of the following would be considered a public good in the United States?

In what key ways does social democracy differ from liberalism? In what ways is it similar?

Markets can best be defined as

Liberalism is best associated with which of the following policies?

What are the relative benefits and drawbacks of using purchasing power parity (PPP), the Gini index, and the Human Development Index to measure relative wealth and inequality across countries?

Public goods are best defined as

In which of the following ways does using purchasing power parity to calculate GDP differ from the use of straight GDP in measuring a country's economic development?

Which political-economic system accepts a role for private property and market forces but is cautious about their benefits to society?

In which of the following ways do both communism and mercantilism differ from liberalism?

The _______ is in charge of regulating the supply of money in a country.

What is the oldest of the political-economic systems, and what system first rose to challenge it?

What tools do states use in regulating trade with other states? What political-economic systems are most and least likely to impose strict regulations on trade?

Which of the following statements about the state of world liberalization in the twenty-first century is accurate?

Which of the following statements about mercantilism is accurate?

Which political-economic system views private property as a form of exploitation?

Which of the following statements about social expenditures is accurate?

Introduction

States

Nations and Society

Political Violence

Democratic Regimes

Developed Democracies

Nondemocratic Regimes

Communism and Postcommunism

Developing Countries

Globalization and the Future of Comparative Politics

United Kingdom

Russia

China

Iran

Mexico

Nigeria

Filters