ISS315 spring 2012

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ISS 315

Spring, 2012: Exam 1(Form A)

IMPORTANT: This exam is the property of Center for Integrative Studies at Michigan State University. Reproduction and sale of this exam in any form is prohibited.

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Political economy and classical theories

1. Influence of politics on economics and vice versa is a definition of:

A. Economics
B. Politics
C. Political economy
D. None of the above

2. Which one of the following statements is true about classic mercantilism?

A. Economy should serve the political state by maximizing its wealth and power B. Economy should serve the individuals by maximizing its wealth and power C. economy should serve the Rich by maximizing its wealth and power D. None of the above

3.Which one of the following was promoted under mercantilism?

A. A nation should build strong army and conquer other nations. B. Grant legal monopolies to businesses that produce goods for export C. Establish colonies for raw materials
D. All of the above

4. Which school of thought promoted freedom of press, rule of law, and a free market?

A. Marxism
B. Classical Mercantilism
C. Classical Liberalism
D. None of the above

5.Which one of the following theorists was against any protections for landlords and said, “Landlords gain is industrialist’s loss”?

A. Adam Smith
B. David Ricardo
C. Karl Marx
D. Herbert Spencer

6. Which system tends to believe in trickle down economy?

A. Socialism
B. Communism
C. Capitalism
D. None of the above

7. What was David Ricardo’s point of view on foreign trade?

A. Foreign trade is not good for economy
B. Foreign trade is not good for economy, therefore government should ban it C. Foreign trade is good for economy because it lowers the wages of local labor leading to more profit for the industrialists D. Balance between imports and exports is good for economy

Marxism and political economy

8.In our discussion on Marxism, we presented a number of evolutionary stages of society. Which stage was pointed out in our lectures as ‘Natural Socialism’?

A. Hunting and gathering societies
B. Agrarian societies
C.Ancient societies
D. Feudal societies

9.Who was the rural Proletariat during Feudalism?

A. Factory worker
B. Feudal lord
C. Farmer
D. None of the above

10.In old days, shoemakers used to make shoes using simple tools. They sold it and made some profit for themselves. What type of capitalism was it?

A.Cooperative capitalism
B.Manufacturing capitalism
C.Modern capitalism
D.None of the above

11.In a socialist society, who owns the means of production?

A. State
B. Individuals
C. Communities
D. Bourgeoisie

12.Karl Marx lists a number of things under forces of production. Which one of the following is one of them?

B.The raw material
C.Money, machines, and infrastructure
D.All of the above

13.The story It was Grandfathers Birthday was used in our class to illustrate?

A. Poverty
B. Inequality
C. Class conflict
D. Alienation

14. According to Karl Marx, what is a class conflict?

A. Conflict between two countries
B. Conflict between two religious groups
C. Conflict between Bourgeoisies and Proletariats
D. All of the above

15.According to Marxists, which one of the following nations has a real socialism?

A. China
B. Cuba
C. North Korea
D. None of the above

16.According to Karl Marx, what is the main reason of growth in Capital in a Capitalist society?

A. Modern technology
B. Optimum use of workers
C. Exploitation of workers
D. All of the above

Modernization Theory

17. Which one of the following societies is relatively an undifferentiated society?

A. France
B. Chad
C. Germany
D. Norway

18.Somalia is a poor...
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