Podcast
Questions and Answers
What is the term used to describe when demand exceeds supply, resulting in a shortage?
What is the term used to describe when demand exceeds supply, resulting in a shortage?
Fiscal policy involves government actions that include spending and tax policies to influence economic conditions.
Fiscal policy involves government actions that include spending and tax policies to influence economic conditions.
True
What is the term for the government-imposed tax on goods and services imported from another country?
What is the term for the government-imposed tax on goods and services imported from another country?
Tariff
The combination of government spending and tax policies aimed at managing economic conditions is called __________.
The combination of government spending and tax policies aimed at managing economic conditions is called __________.
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Match the types of inflation with their descriptions:
Match the types of inflation with their descriptions:
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Which level of analysis focuses on the individual's perceptions and choices?
Which level of analysis focuses on the individual's perceptions and choices?
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The G7 countries are considered superpowers.
The G7 countries are considered superpowers.
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What term describes the type of power associated with military and economic strength?
What term describes the type of power associated with military and economic strength?
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Which of the following is NOT a type of unemployment?
Which of the following is NOT a type of unemployment?
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According to Adam Smith, economics is the study of rational human behavior in fulfilling __________.
According to Adam Smith, economics is the study of rational human behavior in fulfilling __________.
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Match the following types of inflation with their descriptions:
Match the following types of inflation with their descriptions:
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Creeping inflation refers to an increase in prices greater than 10%.
Creeping inflation refers to an increase in prices greater than 10%.
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Which of the following countries is classified as a middle power?
Which of the following countries is classified as a middle power?
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What is the formula to calculate the Consumer Price Index (CPI)?
What is the formula to calculate the Consumer Price Index (CPI)?
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Nationalism and ethnicity are both categorized under the theory of conflict as ideas.
Nationalism and ethnicity are both categorized under the theory of conflict as ideas.
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The _____________ is the value of goods produced within a country during a specific period.
The _____________ is the value of goods produced within a country during a specific period.
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Who is known as the 'Father of modern economics'?
Who is known as the 'Father of modern economics'?
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Which type of inflation occurs when there is an extreme increase in prices?
Which type of inflation occurs when there is an extreme increase in prices?
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What is the primary goal of fiscal policy?
What is the primary goal of fiscal policy?
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Consumer spending is categorized under ___________ when calculating GDP.
Consumer spending is categorized under ___________ when calculating GDP.
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Study Notes
International Relations Primer Quiz
- The collective goods problem is how to provide benefits to all members.
- Dominance is when one actor controls all others.
- Reciprocity is when both actors benefit.
- Identity is when actors share common values.
World Actors
-
State Actors:
- Nations
- States (countries)
- Governments
-
Non-State Actors:
- Non-governmental organizations (NGOs)
- Individuals
- Terrorist groups
- Multinational Corporations (MNCs)
- International Governmental Organizations (IGOs)
- Supranational: Organizations transcending national borders.
Divisions of Power
-
Anarchy (Power of None):
- Individualist anarchists advocate for freedom from government control.
- Social anarchists believe power should be shared by all.
- They see themselves as having true democracy where everyone holds power.
-
Autocracy (Power of One): A single person or small group holds unlimited power.
- Monarchy: A hereditary ruler.
- Absolute monarchy: Unlimited power.
- Constitutional monarchy: Power limited by a constitution.
- Dictatorship: A single ruler seizing power.
- Oligarchy: A privileged ruling class.
- Aristocracy: Rule by the elite.
- Theocracy: Rule by religious leaders.
- Monarchy: A hereditary ruler.
-
Democracy (Power of All): A system of free elections.
- Republic: A system governed by elected representatives.
Levels of Analysis
- International system (global)
- State (national)
- Individual (personal)
Categories of Power
- Superpower: US and China
- Great Power: G7 countries (e.g., USA, Canada, France)
- Middle Powers: Countries with significant influence but not superpower status.
- Small Powers: Countries with limited global influence.
Theories of International Relations
- Realism: National interest and anarchical international system.
- Dominance
Intro to Economics
- Economics studies human behavior to fulfill needs and wants.
- Adam Smith developed the field of economics with his book An Inquiry into the Nature and Causes of the Wealth of Nations. Assumptions include that humans are rational in fulfilling wants and needs with limited resources.
- Scarcity is the tension between limited resources and unlimited wants.
Macroeconomics
- GDP is the total value of goods and services in a country. Components include consumption, investment, government spending, and net exports.
- Gross Domestic Product (GDP): measures total output of a country and is calculated by summing consumption, investment, government spending and net exports .
- CPI: Consumer Price Index measures changes in the price of goods and services.
- Inflation rate measures price increases in an economy .
- Unemployment measures the portion of the labor force looking for jobs and unable to find them.
Supply Chain
- This is a network involved in producing and delivering a product or service from supplier to customer.
- Traceability is tracking products from origin.
- Transparency allows customers to trace product origins.
- Sustainability involves supporting farmers.
Key Definitions
- Scarcity refers to the tension between limited resources and unlimited wants.
- Inflation measures the rate of increase in prices.
- Unemployment refers to the portion of the labor force actively seeking and unable to find work.
- Supply is the total amount of a particular good or service available.
- Demand is the desire and willingness to purchase goods and services.
- Shortage is when demand exceeds supply.
- Surplus is when supply exceeds demand.
- Recession is a significant downturn in economic activity.
- Protectionism aims to shield local businesses and jobs from foreign competition using barriers like tariffs.
- Fiscal policy uses government spending and taxation to influence the economy.
- Free trade allows imports and exports without restrictions.
- Tariff is a tax on imported goods.
- Elasticity measures the responsiveness of quantity demanded to changes in price.
Final Period
- Demographics are statistical characteristics of a population.
- World Religions: This section summarizes various religions including Judaism, Christianity, Islam, and Hinduism.
Migration
- Migration involves people relocating to another geographic area often seeking better opportunities, and includes those who are refugees.
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Description
Test your knowledge on the essential concepts of international relations, including collective goods, state and non-state actors, and power dynamics. Explore the theories of anarchy and autocracy to better understand global interactions. Perfect for students and enthusiasts alike!
