Exam #1 ISS 315 (Global Diversity and Interdependence)

Influence of politics on economics and vice versa is a definition of...

Political Economy

Which school of thought promoted the idea that one of the goals of the economy should be to maximize the wealth and power of the state?

Classical Mercantilism

What terms were promoted under mercantilism? (3)

1. Colonialism

2. Promote Exports

3. Prohibit or restrict imports

Which school of thought was in favor of limited government, rule of law, constitutionalism, and free market?

Free Liberalism

Which system tends to believe in trickle down economy?

Capitalism

What was David Ricardo's point of view on landlords?

He was not in favor of protection of landlords because they resist industrialization

Which of the following freedoms was relatively very important to Classical Liberalism?

Freedom of markets to compete

According to Karl Marx, which one of the following societies was based on "Natural Socialism"?

Hunting and gathering societies

According to Karl Marx, which system emerges after class conflict?

Socialism

Which term was used by Karl Marx for factory workers in Modern Capitalism?

Urban Proletariat

In old days, shoemakers used to make shoes using simple tools. They sold it and made some profit for themselves. What type of capitalism was it?

Manufacturing capitalism

Karl Marx lists a number of things under forces of production. What are they? (3)

1. Labor

2. The raw material

3. Money, machines and infrastructure

The story "It was Grandfathers Birthday" was used in our class to illustrate?

Alienation

What is Karl Marx's point of view on Middle class?

He believes that middle class is not an independent class and that it works for the welfare of the Bourgeoisie.

What was the statement given on mode of production by Karl Marx?

Change in mode of production leads to a change in the structure of society.

We used an example of "half baked cookies". What was half baked in that example?

Socialism in China, Russia and Cuba.

What's the main thesis promoted by Modernization theory?

Poverty of nation is a product of internal factors

Japan is a modern society. According to Levy's Model of Modernization, what is one characteristic of a Japanese society?

Complex bureaucracy

What societies are relative to differentiated society? (2)

Industrial and urban societies

At this time Afghanistan is facing a number of problems. If you believe in Modernization Theory, how would you try to change Afghanistan?

Try to change the value, tradition and culture of Afghanistan.

In the old days, what was one of the characteristics of Native Indian tribes?

Low use of money and market

According to Modernization Theory, there are a number of demographic consequences of industrialization. How does it influence migration, fertility, and mortality?

Migration goes up.

Fertility goes down.

Mortality goes down.

Amish live very traditional life in the USA. You have been asked by the US government to prepare a plan to modernize them. Which one of the following should be the main focus of your plan?

Try to change the values, traditions and culture of Amish.

According to A.G Frank, when did the depend of poor nations on rich nations begin?

During colonialism

Generally speaking, which nations tend to be Capital intensive?

Europen-nations

Which of the following statements on free market refers to World System Perspective?

There are no real free markets in capitalist societies.

Chad is a poor nation. What reason of poverty of Chad refers to Chase-Dunn? (3)

1. Colonialism

2. Wars imposed by core nations

3. Local environmental and social reason

Which one of the following statements best describes Robert Cox's point of view on World Bank and IMF?

They both have been very successful

Which characteristics refers to periphery nations?

Poor economy

You watched a video on Wallenstein. What did he say about the future of global economies and recession?

He was very pessimist about the future of global economy and predicted a depression in the near future

In which continent most of the nations tend to have a very high Life Expectancy?

Europe

In which continent you find a large number of nations with relatively ver low GNI PPP?

Africa

Which nations tend to have very high infant mortality rates?

Poor nations

Which of the following four nations has the lowest life expectancy?

Sierra Leone

Which of the following four nations has the highest fertility rate?

Mali

In modern societies, which one of the following tends to be the main force behind all economic actives?

Market

What are the characteristics of Economic Organizations of Antiquity? (3)

Wealth was accumulated through religion, political initiations, and power.

In Chapter 3 (The Emergence of Market Society), what does "Protestant Ethics" refers to?

Promotion and acceptance of materialism along with the Christian beliefs and practices

According to Chapter 4 (The Industrial Revolution), where did the industrial begin?

England

We watched some of the images of factory works during industrial revolution. What was the minimum age of workers at this time?

There was no age limit and children as young as 5 years old worked in factories

In Chapter 8 (Modern Capitalism Emerges in Europe), the author talks about the difference between US and European capitalism. What is one of the characteristics of US capitalism?

The US has a very large domestic market

According to the author, which three things played a role in the success of capitalism leading to its golden age?

1. Marshall Plan

2. GATT

3. World Bank and IMF

During the cold war, which nation was a part of Soviet Block?

Poland

What are the consequences of globalization for rich countries? (3)

1. Influence of International financial organization

2. Increased inequality

3. Diminishing national sovereignty

According to our discussion on Chapter 13 (Problems and Possibilities) what will happen if capitalism fails in the 21st century?

Capitalism will be replaced by religious fundamentalism