Free International Political Economy MCQs with Answers

• A. WTO
• B. GATT
• C. NIEO
• D. IMF

Explanation: Structural adjustment programmes are chiefly associated with IMF lending and require recipient governments to adopt measures such as…

• A. capital accumulation
• B. rising per capita incomes
• C. increasing levels of foreign aid
• D. increasing skills in the population

Explanation: Economic development is normally measured through changes such as capital formation, higher per capita income, and improved human skills.

• A. all of the aid distributed via this model comes from countries of the global South
• B. it relies on local communities to determine the needs of their own people and to carry out development projects
• C. it relies on simply giving food or money without much through to the broader consequences
• D. it cuts off aid if the recipient states or communities do not show immediate progress in improving the provision of basic human needs

Explanation: Oxfam’s development approach emphasizes participation, allowing local communities to identify their priorities and implement projects…

• A. Although growth has been uneven, total rate of growth is basically equal between the North and South
• B. Africa experienced negative economic growth
• C. South Asia still lags far behind China in growth rate
• D. The South now outpaces the North in growth rateSend Money Overseas

Explanation: Since the start of the twenty-first century, emerging economies in the global South have generally grown faster than the established…

• A. capitalism, allowing private enterprise to dictate the rise and fall of major industries
• B. Marxist values and central control of all means of production
• C. socialism and state control of agriculture and consumer goods, but private capitalism for large industries
• D. socialism and state control of large large industries but on private capitalism in agriculture and consumer goods

Explanation: India followed a mixed economic model: the state controlled major industries, while agriculture and consumer goods retained substantial…

• A. Those exports are typically controlled by a handful of large landowners
• B. The revenue arrives in a very concentrated form of large payments oh hard currency
• C. When the price for those exports drops on the world market, local government officials seek to supplement their income by corrupt means
• D. It is nearly impossible to officially track the value and payment receipts for a few large exports in developing countries

Explanation: A few export commodities can generate very large foreign-currency payments that are difficult to monitor and easy for officials or elites…

• A. Portugal
• B. England
• C. Sweden
• D. Spain

Explanation: England chartered the East India Company in 1600 under Queen Elizabeth I to conduct trade with the East Indies.

• A. James I
• B. Charles I
• C. James II
• D. Mary, Queen

Explanation: Jamestown, the first permanent English settlement in North America, was established in 1607 and named after King James I.

• A. Rice
• B. Rum
• C. Slaves
• D. Tobacco

Explanation: In 1619, a Dutch ship brought the first recorded Africans who were sold into slavery at Jamestown, Virginia.

• A. Confederation of towns in the Low Countries for mutual defence
• B. Europe's first international Trades Union
• C. Confederation of Baltic States
• D. A confederation of German (and other) towns for mutual defence in commerce

Explanation: The Hanseatic League was a commercial and defensive association of German and other northern European towns, especially around the Baltic…

• A. Margaret Thatcher
• B. Winston Churchill
• C. Clement Atlee
• D. Tony Blair

Explanation: The Diners Club card, generally regarded as the first modern credit card, was launched in 1950 while Clement Attlee was British prime…

• A. To help Europe's economy recovery after World War l
• B. To help Europe's economic recovery after World War ll
• C. To help Europe's integrate
• D. To end recession in the world

Explanation: The Marshall Plan provided US economic assistance to rebuild Western European economies after World War II.

• A. 1950-1952
• B. 1952-54
• C. 1948-52
• D. 1946-52

Explanation: Marshall Plan aid was provided from 1948 to 1952 through the European Recovery Program, with participating countries cooperating through…

• A. Enlightenment
• B. Industrial Revolution
• C. Renaissance
• D. Imperialism

Explanation: This shift from agriculture to mechanized industry, beginning in Britain around 1760, is known as the Industrial Revolution.

• A. help poor countries pursing democratic ideals
• B. support war against Terrorism
• C. Improve national security network
• D. Provide financial aid to Iraq and Afghanistan

Explanation: The Millennium Challenge Account was created to give development assistance to poor countries that show commitment to good governance…

• A. International Monetary Fund (IMF), European Central Bank (ECB), and the World Trade Organization (WTO)
• B. International Monetary Fund (IMF), International Bank for Reconstruction and Development (World Bank), and the World Trade Organization (WTO)
• C. International Monetary Fund (IMF), International Bank for Reconstruction and Development (World Bank), and the International Trade Organization
• D. International Monetary Fund (IMF), International Bank for Reconstruction and Development (World Bank), and the Bank for International Settlements (BIS)

Explanation: The Bretton Woods planners envisioned the IMF, the World Bank’s IBRD, and an International Trade Organization to regulate global trade.

• A. OPEC
• B. NATO
• C. OECD
• D. CPLP

Explanation: OPEC coordinates the petroleum policies of member states and seeks to influence oil production and prices.

• A. Illustrates the guns-versus-butter trade-off
• B. Is no longer true thanks to globalization
• C. Is the conclusion of a Swedish study by Inga Thorsson et al
• D. a and c

Explanation: The statement expresses the guns-versus-butter trade-off, in which military expenditure competes with resources for development, and is…

• A. major industrial states
• B. Latin American states
• C. Poor states
• D. European states

Explanation: The Bretton Woods arrangements were designed by the leading Allied and industrial economies to regulate post-war monetary and financial…

• A. international trade rules
• B. international transportation
• C. international purchasing rules
• D. international finance rules

Explanation: GATT supplied the basic multilateral framework for reducing tariffs and regulating international trade after World War II.