POLI 330N SCI WEEK 6 QUIZ.

POLI 330N SCI WEEK 6 QUIZ. Week 6 Quiz 1) Describe how today’s conservatives use the term “political economy.” Conservatives use the term to try to get back to the pure market system advocated by Adam Smith. Conservatives understand the term within the context of Machiavelli’s The Prince. Conservatives veer toward John Stuart Mill’s usage, which advocated utilitarianism. Conservatives take a neo-utilitarian approach, hoping to benefit the weakest members of society. 2) Early 20th-century European governments subscribed to doctrines, generally keeping their hands away from the economy. classic liberal inflationary neoclassical Smithian 3) The 1973 Mideast war allowed members of the Organization of Petroleum Exporting Countries (OPEC) to . sell to nations in Eastern Europe export to Japan and China quadruple oil prices keep oil prices down 4) Between 1965 and 1973, the percentage of Americans living below the poverty line . doubled greatly decreased slightly increased rapidly increased 5) Which U.S. President is responsible for implementing the Food Stamp program nationwide? John F. Kennedy Lyndon B. Johnson Richard Nixon Jimmy Carter 6) Differentiate between the rising costs of Medicare and Medicaid. Medicare anticipates rising costs due to changing proportions of people over 65. Medicaid expects rising costs due to looming financial busts. Medicare plans to keep spending down by raising the eligibility age to 69. Medicaid hopes to beat rising costs by adjusting the poverty level. 7) According to political scientist Ira Sharkansky, “All modern states are welfare states, and all welfare states are .” democratic compassionate bureaucratic incoherent 8) How does the American welfare state compare to those of other industrialized nations? Much less is allocated to welfare in the United States. Other nations allocate less to welfare than the United States. The United States allocates about the same to welfare. Few nations besides the United States maintain funds for welfare. 9) Most liberals feel that the poverty line is . reasonable disproportionate too high too low 10) Many conservative economists argue that some banks are , because they would topple the rest of the economy with them. inherently successful too big to fail destined for profit practically invincible