Question 1

Command economies are economic systems in which ______.

Accepted Answer

A)   states control all aspects of an economy
B)   private property is abolished with a system of common ownership
C)   there is a greater role for the state in controlling the negative aspects of free markets and providing significant welfare benefits
D)   government intervention is used to balance out the excesses of a free market system

Question 2

Which of the following economic systems envisions a greater role for the state in controlling the negative aspects of free markets and providing significant welfare benefits?

Accepted Answer

A)   capitalism
B)   communism
C)   socialism
D)   social democracy

Question 3

The total sum of all economic activity is a country is known as ______.

Accepted Answer

A)   interest
B)   inflation
C)   gross domestic product
D)   exchange rates

Question 4

The origins of socialism are rooted in disagreements about how the working class would take control of the state.

Accepted Answer

A) True 
 B)False

Question 5

In what ways can states (governments) affect their economies? Why might they pursue those options, and what are the consequences of those actions?

Accepted Answer

Students should demonstrate an understan...

Question 6

Managing unemployment is a central feature of fiscal policy.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following best describes monetary policy?

Accepted Answer

A)   a formal system of cooperation between business and government
B)   a system of exchange between producers and consumers of goods
C)   a mix of taxing and spending policies enacted by states
D)   a determination of the value and amount of money in the system

Question 8

Does economic development encourage democratization (a growth in democracy)? How and why-or how and why not? Consider the different policies that states can adopt to affect the economy, the impact of regime types, and real world examples to support your argument.

Accepted Answer

Responses should incorporate material st...

Question 9

The provision of special subsidies and assistance for the poor (typically through tax revenue from wealthier taxpayers)  is known as ______.

Accepted Answer

A)   fiscal policy
B)   redistribution policy
C)   monetary policy
D)   tax expenditure

Question 10

Which of the following best describes the field of comparative political economy?

Accepted Answer

A)   the study of production and trade and the relationship with government and the distribution of wealth and income
B)   the study the relationship between global politics and the global economy
C)   the study and method used to examine the relationship between politics and economics across a range of states
D)   the study of different countries' factor endowments or technological endowments that allow for the ability to produce particular goods at lower opportunity costs

Question 11

Which of the following economic systems tries to "balance capitalist markets and private property with a greater degree of state intervention in the economy … in an effort to ameliorate the economic inequalities that the free market tends to create"?

Accepted Answer

A)   capitalism
B)   communism
C)   socialism
D)   social democracy

Question 12

Political science research has shown that economic concerns are a primary issue for voters.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following best describes social democracy?

Accepted Answer

A)   an economic system in which there is a free market wherein supply and demand regulates the availability and price of goods and labor
B)   an economic system in which private property is abolished with a system of common ownership
C)   an economic system that envisions a greater role for the state in controlling the negative aspects of free markets and providing significant welfare benefits
D)   an economic system that utilizes government intervention to balance out the excesses of a free market system

Question 14

Inflation refers to the ______.

Accepted Answer

A)   amount lenders can charge for the use of borrowed assets
B)   increase in prices of goods due to the devaluation of a currency
C)   sum of all economic activity in a state
D)   value or price of one currency vis-à-vis another

Question 15

Sin taxes are those______.

Accepted Answer

A)   placed on goods and services to discourage people from buying them
B)   placed on imported goods
C)   foregone by governments due to payers' claims for reductions to their overall tax bills
D)   that increase as income level rises

Question 16

Which of the following economic systems depends on supply and demand to regulate the availability and price of goods and labor?

Accepted Answer

A)   capitalism
B)   communism
C)   socialism
D)   social democracy

Question 17

Consider the impact of economic inequality for politics and society. What are some of the methods used to assess inequality? Prescribe a policy or set of policies that you think could be the most effective at ameliorating inequality, and why.

Accepted Answer

Responses should clearly discuss measure...

Question 18

The tax imposed by the 2010 Affordable Care Act on individuals who did not have health insurance was an example of a tax expenditure.

Accepted Answer

A) True 
 B)False

Question 19

Inflation is often kept in check by the implementation of targeted interest rates.

Accepted Answer

A) True 
 B)False

Question 20

The resource curse refers to the situation in which ______.

Accepted Answer

A)   there are people who will not pay to participate in achieving public goods or resources
B)   an economic system is unable to produce or distribute needed goods, resources, or services
C)   a country has vast natural resources but less economic growth, less democracy, or worse levels of development compared to countries without those resources
D)   people overuse resources or goods available to all, thereby depleting it for all

Exam 10: Political Economy

The provision of special subsidies and assistance for the poor (typically through tax revenue from wealthier taxpayers) is known as ______.

Correct AnswerverifiedShow Answer

Which of the following best describes monetary policy?

Correct AnswerverifiedShow Answer

Sin taxes are those______.

Correct AnswerverifiedShow Answer

Inflation refers to the ______.

Correct AnswerverifiedShow Answer

The tax imposed by the 2010 Affordable Care Act on individuals who did not have health insurance was an example of a tax expenditure.

Correct AnswerverifiedShow Answer

Which of the following economic systems tries to "balance capitalist markets and private property with a greater degree of state intervention in the economy … in an effort to ameliorate the economic inequalities that the free market tends to create"?

Correct AnswerverifiedShow Answer

In what ways can states (governments) affect their economies? Why might they pursue those options, and what are the consequences of those actions?

Correct AnswerverifiedStudents should demonstrate an understan...View AnswerShow Answer

Command economies are economic systems in which ______.

Correct AnswerverifiedShow Answer

Which of the following economic systems depends on supply and demand to regulate the availability and price of goods and labor?

Correct AnswerverifiedShow Answer

The resource curse refers to the situation in which ______.

Correct AnswerverifiedShow Answer

Which of the following best describes the field of comparative political economy?

Correct AnswerverifiedShow Answer

The origins of socialism are rooted in disagreements about how the working class would take control of the state.

Correct AnswerverifiedShow Answer

Political science research has shown that economic concerns are a primary issue for voters.

Correct AnswerverifiedShow Answer

Which of the following economic systems envisions a greater role for the state in controlling the negative aspects of free markets and providing significant welfare benefits?

Correct AnswerverifiedShow Answer

Consider the impact of economic inequality for politics and society. What are some of the methods used to assess inequality? Prescribe a policy or set of policies that you think could be the most effective at ameliorating inequality, and why.

Correct AnswerverifiedResponses should clearly discuss measure...View AnswerShow Answer

Inflation is often kept in check by the implementation of targeted interest rates.

Correct AnswerverifiedShow Answer

The total sum of all economic activity is a country is known as ______.

Correct AnswerverifiedShow Answer

Does economic development encourage democratization (a growth in democracy)? How and why-or how and why not? Consider the different policies that states can adopt to affect the economy, the impact of regime types, and real world examples to support your argument.

Correct AnswerverifiedResponses should incorporate material st...View AnswerShow Answer

Managing unemployment is a central feature of fiscal policy.

Correct AnswerverifiedShow Answer

Which of the following best describes social democracy?

Correct AnswerverifiedShow Answer

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Students should demonstrate an understan...
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Responses should clearly discuss measure...
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Responses should incorporate material st...
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