POS 486 Quiz 1 Chapter 4 Questions And Answers
With Real Solutions
1) Adam Smith
a) supported laissez-faire policies that opposed any government intervention.
b) is closely associated with the theory of absolute advantage
c) believed that states should institute free trade policies unilaterally if necessary to permit the market to
operate.
d) is closely associated with the theory of comparative advantage.
is closely associated with the theory of absolute advantage
2) Liberals
a) are not attuned to the role of power in interdependent relationships.
b) see technological change as an important force behind the potential for development.
c) are not concerned with distributional issues.
d) assume that states are likely to gain equally from open economic relationships.
see technological change as an important force behind the potential for development.
3) Interventionist liberals are more concerned than orthodox liberals with
a) international institutions
b) negative freedom
c) distributional issues
d) domestic-international interactions
distributional issues
4) John Maynard Keynes
a) viewed limits on imports as sometimes justifiable.
b) favored internationalist policies at Bretton Woods because of his commitment to free
, trade.
c) did not accept a large extension of the traditional functions of government.
d) was accepting of the forceful nationalism of the interwar years.
viewed limits on imports as sometimes justifiable
5) Keynesians have what view of deficit spending?
a) may be necessary when there is a long-term downturn
b) should be balanced out during prosperous times
c) is more likely to be effective than changing interest rates in a recession
d) all of the above
all of the above
6) The embedded liberal compromise
a) was supported by a domestic class compromise between business and labor
b) was a term used by Karl Polanyi to warn against the self-regulating market
c) was a term coined by Keynes to indicate his commitment to interventionist liberalism.
d) indicates that postwar efforts to maintain an open liberal international economy were
embedded in institutions to ensure that there was global regulation
was supported by a domestic class compromise between business and labor
7) Friedrich Hayek and Milton Friedman
a) reluctantly accepted the move to embedded liberalism in the 1940s to 1960s.
b) preferred economic planning only in some circumstances.
c) tried to reach some consensus with interventionist liberals.
d) supported a strict separation between politics and economics.
supported a strict separation between politics and economics.
With Real Solutions
1) Adam Smith
a) supported laissez-faire policies that opposed any government intervention.
b) is closely associated with the theory of absolute advantage
c) believed that states should institute free trade policies unilaterally if necessary to permit the market to
operate.
d) is closely associated with the theory of comparative advantage.
is closely associated with the theory of absolute advantage
2) Liberals
a) are not attuned to the role of power in interdependent relationships.
b) see technological change as an important force behind the potential for development.
c) are not concerned with distributional issues.
d) assume that states are likely to gain equally from open economic relationships.
see technological change as an important force behind the potential for development.
3) Interventionist liberals are more concerned than orthodox liberals with
a) international institutions
b) negative freedom
c) distributional issues
d) domestic-international interactions
distributional issues
4) John Maynard Keynes
a) viewed limits on imports as sometimes justifiable.
b) favored internationalist policies at Bretton Woods because of his commitment to free
, trade.
c) did not accept a large extension of the traditional functions of government.
d) was accepting of the forceful nationalism of the interwar years.
viewed limits on imports as sometimes justifiable
5) Keynesians have what view of deficit spending?
a) may be necessary when there is a long-term downturn
b) should be balanced out during prosperous times
c) is more likely to be effective than changing interest rates in a recession
d) all of the above
all of the above
6) The embedded liberal compromise
a) was supported by a domestic class compromise between business and labor
b) was a term used by Karl Polanyi to warn against the self-regulating market
c) was a term coined by Keynes to indicate his commitment to interventionist liberalism.
d) indicates that postwar efforts to maintain an open liberal international economy were
embedded in institutions to ensure that there was global regulation
was supported by a domestic class compromise between business and labor
7) Friedrich Hayek and Milton Friedman
a) reluctantly accepted the move to embedded liberalism in the 1940s to 1960s.
b) preferred economic planning only in some circumstances.
c) tried to reach some consensus with interventionist liberals.
d) supported a strict separation between politics and economics.
supported a strict separation between politics and economics.
