POL S 203 Final Exam Questions with
Complete Solutions (Latest 2025)
Liberalism and Free Trade - Correct Answers ✅Politics and
Economics should be separate
Markets will work effectively
Free market is most effective
Absolute Gains - Correct Answers ✅As long as both sides
gain, it doesn't matter by how much
Positive Sum - Correct Answers ✅Both sides win
Liberalism: Trade promotes peace - Correct Answers
✅Politics divides, economics brings together
NAFTA 1994
Ricardo's Comparative Advantage - Correct Answers
✅Countries engage in international trade even when one
country's workers are more efficient at producing every single
good than workers in other countries.
Non-Tariff Barriers - Correct Answers ✅Put strict
regulations on a product such as apples, and a country will be
unable to meet them, reducing trade
Quota - Correct Answers ✅Numerical cap on imports
,POL S 203 Final Exam Questions with
Complete Solutions (Latest 2025)
Keep other countries out once cap is reached
US Farm Subsidies - Correct Answers ✅Govt. aid to farmers
was $27 billion
Allows farmers to export at a lower price than what is cost to
produce
Paid farmers to no over-grow crops
Protectionism: Cotton Subsidies - Correct Answers ✅West
Africa hurt by subsidized US cotton
Brazil's WTO victory over the US: US was paying Brazil so
they could continue to illegally subsidize
Realism & Free Trade (Mercantilism) - Correct Answers
✅Politics drives economics
Economics is subordinate to state interests
Obsessed with power of state
Focuses on relative gains
, POL S 203 Final Exam Questions with
Complete Solutions (Latest 2025)
Relative Gains - Correct Answers ✅Only state can get
richer with the loss of other states
Wealth is power, and power is relative
Zero Sum - Correct Answers ✅My gain is your loss
One sided
Realist View on Comparative Advantage - Correct Answers
✅Fear of dependence on others
Subsidize inefficient industries
Strategic Trade - Correct Answers ✅Comparative
advantage justifies interference in markets
Comparative advantage can be creative for realists:
Interference in markets today, and create advantage
tomorrow.
Marxism and Free Trade - Correct Answers ✅Economics
determines politics
Complete Solutions (Latest 2025)
Liberalism and Free Trade - Correct Answers ✅Politics and
Economics should be separate
Markets will work effectively
Free market is most effective
Absolute Gains - Correct Answers ✅As long as both sides
gain, it doesn't matter by how much
Positive Sum - Correct Answers ✅Both sides win
Liberalism: Trade promotes peace - Correct Answers
✅Politics divides, economics brings together
NAFTA 1994
Ricardo's Comparative Advantage - Correct Answers
✅Countries engage in international trade even when one
country's workers are more efficient at producing every single
good than workers in other countries.
Non-Tariff Barriers - Correct Answers ✅Put strict
regulations on a product such as apples, and a country will be
unable to meet them, reducing trade
Quota - Correct Answers ✅Numerical cap on imports
,POL S 203 Final Exam Questions with
Complete Solutions (Latest 2025)
Keep other countries out once cap is reached
US Farm Subsidies - Correct Answers ✅Govt. aid to farmers
was $27 billion
Allows farmers to export at a lower price than what is cost to
produce
Paid farmers to no over-grow crops
Protectionism: Cotton Subsidies - Correct Answers ✅West
Africa hurt by subsidized US cotton
Brazil's WTO victory over the US: US was paying Brazil so
they could continue to illegally subsidize
Realism & Free Trade (Mercantilism) - Correct Answers
✅Politics drives economics
Economics is subordinate to state interests
Obsessed with power of state
Focuses on relative gains
, POL S 203 Final Exam Questions with
Complete Solutions (Latest 2025)
Relative Gains - Correct Answers ✅Only state can get
richer with the loss of other states
Wealth is power, and power is relative
Zero Sum - Correct Answers ✅My gain is your loss
One sided
Realist View on Comparative Advantage - Correct Answers
✅Fear of dependence on others
Subsidize inefficient industries
Strategic Trade - Correct Answers ✅Comparative
advantage justifies interference in markets
Comparative advantage can be creative for realists:
Interference in markets today, and create advantage
tomorrow.
Marxism and Free Trade - Correct Answers ✅Economics
determines politics
