Exam 1 Introduction to Political Economy

Political Science 106 Exam 1 Introduction to Political Economy

Instructions/Descriptions

Political Science 106 Exam 1 Introduction to Political Economy

1. Check either T or F for each of the following statements (40 points, 2 points each):
2. (T) (F) The study of political economy focuses on the interplay between the market and the state, and brings together both political and economic considerations in the allocation of resources and in the distribution of public goods

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2. (T) (F) The classical economics of Adam Smith and David Ricardo was the intellectual source of capitalism’s political economy.

3. (T) (F) Capitalism can remain capitalism as long as it makes its fundamental commitment to private ownership and free choice of consumers.

4. (T) (F) Capitalism is compatible with many different forms of government, even with authoritarian political systems.

5. (T) (F) Adam Smith argues that a free market economy should dominated by individual self-interest and conditioned by the “invisible hand” of market forces through the balance of demand and supply.

6. (T) (F) Capitalism emphasizes the freedom of the autonomous individual, the system of private property and self-regulating markets, and the pursuit of individual interest.
7. (T) (F) Neo-corporatism in its very nature is compatible with parliamentary democracy.

8. (T) (F) Marx’s historical materialism attempted to address the three fundamental questions: Which matters most in human history, man’s ideas or productive activity? Who makes history? How history is made?

9. (T) (F) Traditional corporatism tends to emerge in societies that emphasize group interests over individual interests.

10. (T) (F) Marx believed that man’s productive activity was essential in understanding of man and his history.

11. (T) (F) Hegel’ dialectic and idealism and Feuerbach’s materialism are intellectual sources and components of Marx political philosophy.

12. (T) (F) The Enlightenment was an intellectual movement that sought to establish the supremacy of reason and science.

13. (T) (F) Modern conservatives today are a revival of classical liberalism.

14. (T) (F) Corporatism argues that the government is the political community in which harmony of classes can be reconciled and achieved.

15. (T) (F) Marx’s dialectic materialism attempted to address the relation between the conscience of men and their social being.

16. (T) (F) Liberalism challenged the absolute power of the monarchy that was based upon the doctrine of the “divine right of kings.”

17. (T) (F) In its classical form, it is laissez-faire capitalism that demands a freewheeling market with minimal government and with economic decisions guided by the “invisible hand.”

18. (T) (F) According to Karl Marx, surplus value was the profit the owner made. It was the difference between the value of a product and the wage the worker received.

19. (T) (F) Intellectual sources of Marx’s political economy are Adam Smith and David Ricardo

20. (T) (F) Communism and socialism are not distinct ideologies that are derived from different intellectual origins and sources.

1. Multiple-Choice Questions (40 points, 2 points each)
2. The dominant influence on intellectual life in feudal times was
3. liberalism
4. reason
5. science
6. technology
7. religion or church
8. none of the above

2. The means of production include such things as
3. knowledge, information, technology, leadership, and management
4. labor force
5. financial institutions
6. communication networks
7. resources, land, raw materials, tools, machines, and factories
8. none of the above

3. The first political economist who proposed the theory of surplus value was
4. Adam Smith
5. David Ricardo
6. John Locke
7. Vladimir Ilich Lenin
8. Karl Marx
9. none of the above

4. An ideology that rejects egoistic individualism, private ownership, laissez faire is
5. capitalism
6. fascism
7. radical egalitarianism
8. social democracy
9. Marxism
10. anarchism

5. Who made the following statement: “the free development of each is the precondition of the free development of all”?
6. Jean-Jacques Rousseau
7. Adam Smith
8. Vladimir Ilich Lenin
9. Thomas Jefferson
10. Karl Marx
11. Herbert Marcuse

6. Surplus value theory attempts to provide an explanation of
7. social values and needs under communism
8. laws of demand and supply
9. market prices
10. relations between profit and taxation
11. profit in capitalist economic system
12. none of the above

7. The first economist who proposed the theory of comparative advantages is
8. Abraham Lincoln
9. Alexis de Tocqueville
10. Adam Smith
11. L. Montesquieu
12. David Ricardo
13. John Locke

8. Which of the following was the foundation of Marx’s political philosophy?
9. Plato’s utopian ideas
10. Utilitarianism
11. Anarchism
12. Social Darwinism
13. Historical materialism and dialectical materialism
14. a and d

9. According to Marx, workers cannot receive fair wages because
10. all capitalists are greedy
11. all capitalists are not fair
12. all capitalists are cheating
13. wages reflect the exchange value of a commodity determined by the law of demand and supply
14. the capitalists attempt to maximize the rate of surplus value
15. none of the above

10. Corporatism can be seen as an alternative to
11. conservatism
12. socialism
13. fascism
14. anarchism
15. liberalism and communism
16. fascism and communism

11. Neo-corporatism has been popular in
12. The Middle East
13. Eastern Europe
14. Africa
15. United States
16. Western Europe
17. None of above

12. What are the new characteristics of neo-corporatism as contrasted with authoritarian corporatism of the past?
13. Expanded benefits for employees
14. Expanded benefits for employers
15. Increased role of the market
16. Job security for workers
17. Enhanced cooperation, negotiation, and compromise and reduced coercion
18. none of the above

13. Corporatist institutions and practices have become pervasive in these policy issue areas:
14. foreign policy
15. international relations
16. relations between political institutions
17. management of micro economic organizations
18. industrial policy, capital-labor, and social welfare
19. none of the above

14. The capitalist market economy evolved out of
15. the establishment of modern sovereign states
16. the creation of modern parliamentary democracy
17. the competition between the King and the Church
18. the American Revolution in 1776
19. the breakdown of the feudal system in Western Europe
20. none of the above

15. Political economy is
16. the study of distribution of wealth
17. the study of distribution of power
18. the study of the market behavior
19. the study of the market allocation of economic resources
20. the study of the interaction between the state and the market
21. none of the above

16. Who believes that competitive markets produce efficient allocation of resources
17. Karl Marx
18. Thomas Hobbes
19. Plato
20. Hegel
21. Adam Smith
22. None of above

17. The two pillars of Marx’s political philosophy are:
18. class struggle and the dictatorship of the proletariat
19. equality and freedom
20. a and b
21. idealism and materialism
22. dialectical materialism and historical materialism
23. none of the above

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18. According to Marx, full communism
19. will be dominated by the proletariat
20. will be administered by laboring men
21. will be a society ruled by the Communist Party
22. will be a classless society administered by the proletariat
23. will be a classless society administered by a free association of men
24. none of the above

19. For Marx, the starting point of economic analysis is
20. the individual
21. social value
22. human history
23. human society
24. class
25. none of the above

20. For corporatism, the focus is not on the individual nor on the class structure but on
21. the institutions of market
22. the institutions of government
23. the role of the state
24. the relations between large corporations
25. the process of collective action, interest intermediation, and social cooperation
26. none of the above
    

    Political Science 106 Exam 1 Introduction to Political Economy

    

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