For centuries, the global currency that had value in all countries was __________.
A) the U.S. dollar
B) the British pound
C) precious metals
D) the tolar
What type of exchange rate system is typically utilized in the world today?
A) Pegged-rate system
B) U.S. dollar system
C) Planned system
D) Floating-rate system
What role has the United States played in creating the current global economic system? How important has U.S. leadership been in the global economic system? What are some of the consequences of that leadership both for the United States and the world?
What will be an ideal response?
Which of the following accurately describes the role of force as a power resource in the oil crisis of 1973?
a. There was a direct linkage between the length of the embargo and the force projections of the United States, which moved military resources into the Gulf.
b. There was no link between security interdependence and oil interdependence because there was no strangulation.
c. Strangulation occurred, and so force ceased to become too costly to be used directly (even though it never was).
d. Saudi Arabia was able to push the embargo to such extremes because the United States could offer it no long-run security guarantee in the instability of the Middle East.
e. There was an indirect linkage between security interdependence and oil interdependence, but force played a background role.
Identify and briefly describe the variety of protectionist tools that are available to states. Examine their value in terms of the costs and benefits that one can expect to derive from each.
What will be an ideal response?
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