15 MCQ on Comparative approaches: political economy with answers
15 MCQ on Comparative approaches: political economy with answers
1. What does political economy primarily study?
A) Political systems only
B) Economic systems only
C) The interaction between politics and economics
D) Social structures only
Answer: C) The interaction between politics and economics
2. Which theoretical perspective in political economy emphasizes the role of institutions in shaping economic outcomes?
A) Marxist perspective
B) Rational choice perspective
C) Institutional perspective
D) Dependency perspective
Answer: C) Institutional perspective
3. According to Marxist political economy, what drives historical change?
A) Ideological conflicts
B) Class struggles
C) Technological advancements
D) Cultural shifts
Answer: B) Class struggles
4. Which approach in political economy focuses on how power dynamics shape economic policies and outcomes?
A) Rational choice approach
B) Marxist approach
C) Pluralist approach
D) Dependency approach
Answer: D) Dependency approach
5. What does the term "neoliberalism" refer to in political economy?
A) A focus on state intervention in the economy
B) A belief in free-market principles and limited government intervention
C) A return to socialist economic policies
D) An emphasis on protectionism and isolationism
Answer: B) A belief in free-market principles and limited government intervention
6. Which factor is NOT typically considered by political economists when analyzing economic systems?
A) Technological advancements
B) Cultural values
C) Environmental sustainability
D) Military power
Answer: D) Military power
7. Which concept in political economy refers to the ability of a country to produce goods and services more efficiently than others?
A) Comparative advantage
B) Absolute advantage
C) Economic efficiency
D) Trade deficit
Answer: A) Comparative advantage
8. What does the term "rent-seeking" mean in political economy?
A) Seeking affordable housing
B) Seeking financial aid from the government
C) Seeking to obtain economic gain through manipulation of the political process
D) Seeking employment in the rental sector
Answer: C) Seeking to obtain economic gain through manipulation of the political process
9. Which approach in political economy emphasizes the role of individual decision-making and rational behavior in economic transactions?
A) Marxist approach
B) Rational choice approach
C) Institutional approach
D) Dependency approach
Answer: B) Rational choice approach
10. What is the primary focus of political economy analysis?
A) Social structures
B) Economic structures
C) Political structures
D) Interactions between politics and economics
Answer: D) Interactions between politics and economics
11. Which concept refers to the redistribution of wealth and resources within a society?
A) Socialism
B) Capitalism
C) Neoliberalism
D) Monetarism
Answer: A) Socialism
12. Which international organization is primarily responsible for promoting free trade and economic globalization?
A) World Bank
B) International Monetary Fund (IMF)
C) World Trade Organization (WTO)
D) United Nations (UN)
Answer: C) World Trade Organization (WTO)
13. Which factor is NOT typically considered by political economists when analyzing economic development?
A) Education levels
B) Infrastructure
C) Political stability
D) Cultural homogeneity
Answer: D) Cultural homogeneity
14. What does the term "globalization" refer to in political economy?
A) The process of increasing interconnectedness and interdependence among countries
B) The rise of nationalist economic policies
C) The spread of communism
D) The dominance of one country over others economically
Answer: A) The process of increasing interconnectedness and interdependence among countries
15. Which economic theory argues for the government's active role in regulating the economy to promote stability and growth?
A) Neoliberalism
B) Keynesianism
C) Monetarism
D) Austrian School economics
Answer: B) Keynesianism
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