REVISED FINAL EXAM POSC 2601
Questions with 100% Correct Answers
International Political Economy (IPE) Correct Answer: The study of how politics
and economics interact on the global stage.
Mercantilism Correct Answer: Prioritizes national wealth and power through
protectionism and export surplus.
Economic Liberalism Correct Answer: Advocates for free markets and minimal
state interference.
Marxism Correct Answer: Sees capitalism as exploitative; emphasizes class
struggle and inequality.
Society-centered approaches Correct Answer: Focus on how interest groups
and domestic actors shape trade policy.
Globalization (pros and cons) Correct Answer: Pros: Economic growth,
innovation, cultural exchange. Cons: Inequality, cultural loss, exploitation,
environmental harm.
Stiglitz (2012) Correct Answer: Critiques globalization for being managed unfairly
by global institutions, harming developing nations.
Bretton Woods Conference Correct Answer: 1944 meeting to rebuild post-WWII
economy; created: WTO (World Trade Organization), IMF (International
Monetary Fund), World Bank (WB).
WTO (World Trade Organization) Correct Answer: Manages trade rules.
, IMF (International Monetary Fund) Correct Answer: Provides short-term financial
help.
World Bank (WB) Correct Answer: Funds development projects.
Classic Modernization Theory Correct Answer: Claims all countries develop in
linear stages, following Western industrial models.
China's Version of Modernization Correct Answer: State-led development with
controlled markets and strong government role; challenges Western models.
Mahbubani (2019) Correct Answer: Argues the West must accept Asia's rise and
adapt to a more multipolar world.
Power Transition Theory Correct Answer: War is likely when a rising power
threatens a dominant one (e.g., China vs. U.S.).
U.S.-China Relations Correct Answer: Normalization: Diplomatic ties established
in 1979. Current Issues: Trade, Taiwan, tech rivalry, military competition.
BRICS Correct Answer: Brazil, Russia, India, China, South Africa—emerging
economies challenging Western dominance.
The Russia-Ukraine War Correct Answer: Russia invaded Ukraine in 2022,
reshaping global security, energy politics, and alliances.
Russo-European Relations Correct Answer: Now tense due to sanctions, energy
dependence, and NATO expansion concerns.
Russo-American Relations Correct Answer: Strained over Ukraine, cyberwarfare,
election meddling, and military posturing.
International Development Correct Answer: Efforts to improve living standards in
poorer countries through aid, education, infrastructure, etc.
Questions with 100% Correct Answers
International Political Economy (IPE) Correct Answer: The study of how politics
and economics interact on the global stage.
Mercantilism Correct Answer: Prioritizes national wealth and power through
protectionism and export surplus.
Economic Liberalism Correct Answer: Advocates for free markets and minimal
state interference.
Marxism Correct Answer: Sees capitalism as exploitative; emphasizes class
struggle and inequality.
Society-centered approaches Correct Answer: Focus on how interest groups
and domestic actors shape trade policy.
Globalization (pros and cons) Correct Answer: Pros: Economic growth,
innovation, cultural exchange. Cons: Inequality, cultural loss, exploitation,
environmental harm.
Stiglitz (2012) Correct Answer: Critiques globalization for being managed unfairly
by global institutions, harming developing nations.
Bretton Woods Conference Correct Answer: 1944 meeting to rebuild post-WWII
economy; created: WTO (World Trade Organization), IMF (International
Monetary Fund), World Bank (WB).
WTO (World Trade Organization) Correct Answer: Manages trade rules.
, IMF (International Monetary Fund) Correct Answer: Provides short-term financial
help.
World Bank (WB) Correct Answer: Funds development projects.
Classic Modernization Theory Correct Answer: Claims all countries develop in
linear stages, following Western industrial models.
China's Version of Modernization Correct Answer: State-led development with
controlled markets and strong government role; challenges Western models.
Mahbubani (2019) Correct Answer: Argues the West must accept Asia's rise and
adapt to a more multipolar world.
Power Transition Theory Correct Answer: War is likely when a rising power
threatens a dominant one (e.g., China vs. U.S.).
U.S.-China Relations Correct Answer: Normalization: Diplomatic ties established
in 1979. Current Issues: Trade, Taiwan, tech rivalry, military competition.
BRICS Correct Answer: Brazil, Russia, India, China, South Africa—emerging
economies challenging Western dominance.
The Russia-Ukraine War Correct Answer: Russia invaded Ukraine in 2022,
reshaping global security, energy politics, and alliances.
Russo-European Relations Correct Answer: Now tense due to sanctions, energy
dependence, and NATO expansion concerns.
Russo-American Relations Correct Answer: Strained over Ukraine, cyberwarfare,
election meddling, and military posturing.
International Development Correct Answer: Efforts to improve living standards in
poorer countries through aid, education, infrastructure, etc.
