Wallerstein Asserted That the Core Wealthy Nations of the World

question 53

Multiple Choice

Wallerstein asserted that the core wealthy nations of the world rely on a peripheral group of poorer countries in order to remain wealthy, but that some states

• A) don't mind that they are being exploited.
• B) act as both core and periphery in a world system economy.
• C) think that modernization is ethnocentric and have no part of it.
• D) realize they are without power to become one of the core wealthy nations.

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Definitions:

Simple Spending Multiplier

The ratio of a change in output to a change in autonomous spending that initiated the change, representing how spending circulates through an economy.

Marginal Propensity

The portion of additional income that an individual is likely to spend on goods and services instead of saving.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, which can affect purchasing power and inflation.

Aggregate Expenditure Line

A graphical representation of the total spending in an economy, including consumption, investment, government, and net exports, at various levels of income.