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Economic Theories: Mercantilism and Protectionism

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Economic Theories: Mercantilism and Protectionism

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Questions and Answers

What was the prevailing economic theory of the state before 1776?

Liberalism

Mercantilism (correct)

Protectionism

Marxism

According to Robert Gilpin, what are the two forms of mercantilism?

Defensive and Aggressive (correct)

Nationalist and Globalist

Liberal and Marxist

Capitalist and Socialist

What is the primary goal of mercantilism, according to the text?

To promote free trade

To eliminate monopolies

To build a strong state (correct)

To protect individual rights

What is the relationship between economic strength and military-political power, according to mercantilism?

They are complementary Signup and view all the answers

What is the outcome of the international system, according to mercantilism?

A zero-sum game Signup and view all the answers

What is the main difference between mercantilism and liberalism, according to the text?

Liberals believe states can choose between economic and military power Signup and view all the answers

According to Marxist theory, what is the driving force of human society?

Economic class Signup and view all the answers

What is a problem associated with free markets, according to the text?

Creation of monopolies Signup and view all the answers

What is the title of the book written by Karl Marx and Friedrich Engels?

The Communist Manifesto Signup and view all the answers

What is a consequence of companies using 'free goods' such as air and fresh water?

Shortages and pollution Signup and view all the answers

What is a criticism of free markets, according to the text?

They create a large underclass of very poor Signup and view all the answers

What is the main idea of Marxist theory in relation to human nature?

Humans are naturally inclined to work together peacefully Signup and view all the answers

According to Marxist Theory, what is the primary motivation behind wars?

Profit for the wealthy class Signup and view all the answers

What is the main argument of Dependency Theory?

Countries cannot develop if wealthy countries invest in them and control their businesses. Signup and view all the answers

According to Marxist Theory, what is the ultimate outcome of the class struggle?

The spread of communism. Signup and view all the answers

What is the main critique of liberalism and realism in Marxist and World Systems Theories?

They underestimate the role of wealth and who controls it. Signup and view all the answers

According to World Systems Theory, how do countries interact with each other?

Each country acts according to its position in the economic system. Signup and view all the answers

What is the primary driver of human behavior according to Marxist Theory?

The drive for wealth Signup and view all the answers