IND 123 MIDTERM FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ Which policy would be followed by a protectionist state?.
Answer: imposing tariffs
◍ With respect to deficits, __________..
Answer: a state can have a trade deficit without having a budget deficit
◍ The protectionist Smoot-Hawley Act, adopted by the United States in 1930
in response to the Great Depression, contributed to the severity of the
depression by __________..
Answer: provoking retaliation and reducing world trade
◍ Political stakes.
Answer: What's won and what's lost
◍ Indigeneity.
Answer: Analytic concept that involves claims of aboriginal belonging to
specific places; understood through indigenous languages & vernaculars;
how native people think about themselves; deeply affected by ongoing
history of Empire.
◍ Nativism.
Answer: How non-white ppl think fo native people; Non-White
appropriations of Indigeneity;
◍ The
U. S. __________ exceeded $750 billion in 2014, with about a quarter
accounted for by trade with China and another quarter by oil imports..
Answer: trade deficit
,◍ Cartels form to __________ the price of a certain product, usually are
formed by producers, most often __________ production by each member
so as to lower supply, and can suffer from serious collective-goods
problems..
Answer: manipulate, limit
◍ Received wisdoms.
Answer: Truth claims, passed on through generations, that on
furtherscrutiny, have no actual basis in reality (ex. Thanksgiving)
◍ "The creation of wealth underlies state power. Economics should serve
politics" is a statement in line with __________..
Answer: mercantilism
◍ Comparative & global indigenous studies.
Answer: An emergent academic field ofstudy that examines Indigeneity
across the globe. Contrast with American Indian Studies
◍ Origins.
Answer: Nationalism
◍ Despite a critical shift toward a(n) __________ economy, China's
government continues to follow a Marxist political line..
Answer: market
◍ The principle that whenever one __________ member-state lowers tariffs on
certain kinds of imports from another member-state, all member-states are
entitled to the same treatment with regard to their goods is known as
most-favored nation principle..
Answer: WTO
◍ Which topic is on the agenda of the Doha Round of WTO trade
negotiations?.
Answer: Industrial Products
◍ Predatory practices are efforts to __________ capture a large share of world
markets, or even a near-monopoly, so that eventually a company or state can
, raise prices without fearing competition..
Answer: unfairly
◍ Print Capitalism.
Answer: The rise of vernacular languages and mass-produced print -> new
way for people toimagine themselves as a community; linking of ppl
through shared texts and common sense of time.
◍ The General Agreement on Tariffs and Trade was replaced by the
__________ in 1995..
Answer: World Trade Organization
◍ Decline of old orders.
Answer: The decline of religious communities and dynastic realms ->
vacuum thatnationalism filled -> new, secular basis for belonging.
◍ The most profitable goods involved in illicit trade are __________..
Answer: weapons and drugs
◍ A __________ would agree that a government's most useful role is to
interfere in economics only to regulate markets in order to help them
function efficiently. That is, politics should serve the interests of economic
efficiency..
Answer: liberal
◍ Modular adoption.
Answer: Circulation globally; Model of nationalism for anti-imperialst and
colonial purposes
◍ The most prominent cartel in the international economy is the __________..
Answer: Organization of Petroleum Exporting Countries
◍ Trade in services includes __________..
Answer: banking and insurance
◍ Which country has used its large supply of oil to ensure the functioning of
OPEC?.
Answer: Saudi Arabia
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ Which policy would be followed by a protectionist state?.
Answer: imposing tariffs
◍ With respect to deficits, __________..
Answer: a state can have a trade deficit without having a budget deficit
◍ The protectionist Smoot-Hawley Act, adopted by the United States in 1930
in response to the Great Depression, contributed to the severity of the
depression by __________..
Answer: provoking retaliation and reducing world trade
◍ Political stakes.
Answer: What's won and what's lost
◍ Indigeneity.
Answer: Analytic concept that involves claims of aboriginal belonging to
specific places; understood through indigenous languages & vernaculars;
how native people think about themselves; deeply affected by ongoing
history of Empire.
◍ Nativism.
Answer: How non-white ppl think fo native people; Non-White
appropriations of Indigeneity;
◍ The
U. S. __________ exceeded $750 billion in 2014, with about a quarter
accounted for by trade with China and another quarter by oil imports..
Answer: trade deficit
,◍ Cartels form to __________ the price of a certain product, usually are
formed by producers, most often __________ production by each member
so as to lower supply, and can suffer from serious collective-goods
problems..
Answer: manipulate, limit
◍ Received wisdoms.
Answer: Truth claims, passed on through generations, that on
furtherscrutiny, have no actual basis in reality (ex. Thanksgiving)
◍ "The creation of wealth underlies state power. Economics should serve
politics" is a statement in line with __________..
Answer: mercantilism
◍ Comparative & global indigenous studies.
Answer: An emergent academic field ofstudy that examines Indigeneity
across the globe. Contrast with American Indian Studies
◍ Origins.
Answer: Nationalism
◍ Despite a critical shift toward a(n) __________ economy, China's
government continues to follow a Marxist political line..
Answer: market
◍ The principle that whenever one __________ member-state lowers tariffs on
certain kinds of imports from another member-state, all member-states are
entitled to the same treatment with regard to their goods is known as
most-favored nation principle..
Answer: WTO
◍ Which topic is on the agenda of the Doha Round of WTO trade
negotiations?.
Answer: Industrial Products
◍ Predatory practices are efforts to __________ capture a large share of world
markets, or even a near-monopoly, so that eventually a company or state can
, raise prices without fearing competition..
Answer: unfairly
◍ Print Capitalism.
Answer: The rise of vernacular languages and mass-produced print -> new
way for people toimagine themselves as a community; linking of ppl
through shared texts and common sense of time.
◍ The General Agreement on Tariffs and Trade was replaced by the
__________ in 1995..
Answer: World Trade Organization
◍ Decline of old orders.
Answer: The decline of religious communities and dynastic realms ->
vacuum thatnationalism filled -> new, secular basis for belonging.
◍ The most profitable goods involved in illicit trade are __________..
Answer: weapons and drugs
◍ A __________ would agree that a government's most useful role is to
interfere in economics only to regulate markets in order to help them
function efficiently. That is, politics should serve the interests of economic
efficiency..
Answer: liberal
◍ Modular adoption.
Answer: Circulation globally; Model of nationalism for anti-imperialst and
colonial purposes
◍ The most prominent cartel in the international economy is the __________..
Answer: Organization of Petroleum Exporting Countries
◍ Trade in services includes __________..
Answer: banking and insurance
◍ Which country has used its large supply of oil to ensure the functioning of
OPEC?.
Answer: Saudi Arabia
