economics final exam help

Economics Final Exam Help

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Any material from page 109 onward in our textbook can be tested, which means that the final covers Chapters 4-8!

Part A: Term or Name Definition: 1) Explain what or who it is and 2) why it is important that we know this term or name. I will pick a selection of terms and names from these three lists:

  1. “iron law of wages”
  2. conspicuous consumption
  3. fictional commodities
  4. complex interdependence
  5. oligopoly
  6. deindustrialization
  7. compensatory tariffs
  8. global greenbacks
  9. carbon tax
  10. Index of Sustainable Economic Welfare
  11. sustainable development
  12. “uneconomic growth”
  13. externalities
  14. Global Corporate Accountability Board
  15. idealism vs. materialism
  16. surplus value
  17. alienation
  18. false consciousness
  19. accumulation by dispossession
  20. Thorstein Veblen
  21. Karl Polanyi
  22. Robert Keohane
  23. John Kenneth Galbraith
  24. Herman Daly
  25. Raul Prebisch
  26. David Harvey
  27. Socialism
  28. Regularization Theory
  29. Taylorism
  30. Fordism
  31. Modernization Theory
  32. Dependency Theory
  33. Green Revolution
  34. Ecological Imperialism

Part B: Short Answers In about 3 sentences, answer the following questions:

1. For what reason did David Ricardo call economics “a dismal science”?

2. Karl Polyani argued that market capitalism was subject to cycles of excess and reaction. What did he mean by that?

3. Name and explain 3 of Galbraith’s 8 corporate controlling strategies.

4. Name and explain 3 of the 7 premises of the multi-centric organizational model (MCO).

5. Name and explain the 3 components that make up Karl Marx’s “forces of production”.

6. Why do some scholars argue that women are better off under communism?

Part C: Short Essay Answer In 4 paragraphs, answer the following questions.

1. You are multi-centric organizational model expert and are asked by the White House to explain three important economic reforms from the broader MCO reform agenda: fair trade, debt relief, and regulation of global finance (in one paragraph each). After your presentation, the president asks which one of the three should be prioritized and why?

2. Define and explain the workings of the three regimes of accumulation according to regularization theorists (in one paragraph each). Evaluate costs and benefits of one of the regimes.

3. Juxtapose the positions of the three world views on the causes of and solutions for

environmental degradation (in one paragraph each). Which of the world views is the most

convincing to you, and why

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