The Westphalian Idea of the Sovereign Equality of Member States

question 10

Multiple Choice

The Westphalian idea of the sovereign equality of member states is

• A) the basis for the structure of the UN Security Council.
• B) the basis for each state's having one vote in the UN General Assembly.
• C) the basis for the veto power of the five permanent members of the Security Council.
• D) the basis for the weighted voting system used by the World Bank and the International Monetary Fund.
• E) the basis for the role for certain states in the UN budget negotiations.

---

Definitions:

Recognition Lag

Recognition Lag is the time delay between when an economic problem becomes apparent and when it is recognized by policymakers.

Stimulus Package

A collection of fiscal and monetary policies implemented by a government to stimulate a struggling economy.

Fiscal Policy

Governmental adjustments in spending levels and tax rates aimed at influencing economic activity.

Budget Cycle

The periodic process of planning, creation, execution, and evaluation of a budget, often spanning a fiscal year.