- Carter and Warren discuss “free market open-economy principles”, which have been broadly embraced in developed economies and international agencies such as the World Bank and International Monetary Fund These principles are sometimes referred to as “the Washington Consensus” as they were preached in the 1980s by US President Ronald Reagan and British Prime Minister Margaret Thatcher These principles are vaguely related to the ideas of
AKarl Marx and the
Communist Manifesto
BAdam Smith and
The Wealth of Nations
CJean Jacques Rousseau’s
The Social Contract
DThe preaching of Pope Francis I
2 The adoption of free market open-economy principles has led to societies placing unprecedented faith in the private sector business and institutions This has led to
AA decrease in social welfare programs and public investment in infrastructure upkeep and improvements
BHigher tariffs that impeded international trade
CStrengthening worker affiliation with unions and socialist labor organizations
DCreating more government owned monopolies such as Russia’s Gazprom and Mexico’s Pemex
3 Francis Fukuyama’s theory of “The End of History” suggested which of the following?
AThe world order was broken down and World War III was imminent
BTerrorism was the new type of warfare through which the United States and the West would collapse
CGlobal acceptance of liberal democracy and capitalism signaled the final step in human political evolution
DThe Cold War was over but it would rejuvenate as communism spread
4 The General Agreement on Tariffs and Trade that was formed out of the Bretton Woods conference in July of 1944 evolved into
AThe United Nations
BThe World Trade Organization
CThe World’s Fair Committee
DThe “Common Market”
5 As colonies around the world gained their independence through the 1950s and 1960s, they adopted a strategy to develop their economies The strategy involved the government financing or sometimes owning domestic industries to meet local needs and block foreign competition This strategy is known as
AImport Substitution Strategy
BExport Led Industrialization
CSocialism with a Human Face
DGlobalization