The following gives the comparison of Liberal Institutionalism with Global Governance

Liberal Institutionalism

International

Separation of Political and Economic Areas / Orderly Markets

Multilateralism, International Regimes

Internationalism and Interdependence

Hierarchical Decisions; Coherence between Institutions; Regulation

Hard Law, Binding Rules, Contracts

Global Governance

Transnational Rules of Law

Transnationalism

Many Sites of Governance, and Sources of Authority

Globalized Competition

Trade and investments across the Global Value Chain

Bottom-up approach and Networking Soft Power / Soft Rules and Partnership

The definition given refers to legalism.

The concept of legalism refers to a world-order approach that considers international law as the exclusive means to sustaining and promoting world order. Although the end product of its proponents has been a world government or world federalism, they however, acknowledging the difficulty involved in this process, have generally entertained the idea that world government may be created by first establishing a world confederal structure. Federalism and Confederalism, so the argument goes, would and should be achieved by uniting the world around a common global law. A general international organization, more specifically the UN, would be given the right and the capability to enforce international rules on the states and to bring any international discussion to the World Court.

Subjective conditions are more critical than objective conditions for establishing a collective security system; without the willingness to pay the costs that collective security envisages, a change in the security environment itself would not create a change in the existing system for the management of power. This is, in fact, the main reason why the end of the Cold War did not engender a collective security system.

II) Neorealists believe that international cooperation depends on the will and power of nation states.

IV) Neorealists emphasize the importance of relative gains (zero-sum game) in international politics.

The correct answer is E. 

One ardent supporter of functionalism is David Mitrany.

Neofunctionalism, one version of functionalism, has been mainly applied to the European integration process. Since the mid-1950s, scholars looking at the European example have argued that in fact the application of functional theory at the regional level may eventually create a peaceful world. If each region in the world were peaceful, then, we would have perpetual peace at the global level. Neofunctionalism as such has been introduced as the idea of “peace in parts.” The correct option is E.

The liberal school of IR describes the increasing interaction among international actors as the growing interdependence in international politics. In this context, Robert O. Keohane and Joseph S. Nye have developed the term “complex interdependence”.

The establishment of the International Danube Commission for the regulation of free navigation in the river was the first initiative in forming an international body for the governance of a particular international issue. 

One proponent of legalism has been Hans Kelsen. In Peace Through Law, which was published toward the end of the Second World War, Kelsen argued that if the big powers were satisfied in their territorial claims, then following the war they could agree on a legalistic scheme for order. The correct option is C.

The League did not fairly represent the political and geographical structure of the world. Apart from the US absence, the defeated countries and the Soviet Union were not invited to the membership. 

Despite the fact that war was still an option, it was believed that the League would both offer and promote other political and diplomatic choices for states such as mediation and arbitration. After the four-year fighting, it was thought that states would prefer diplomatic rather than military options. In this regard, the League was considered a platform where multilateral diplomacy could function.

The primary problem of the League was the assumed equality among its members. As it was a design of the victorious states of World War I, the US, Britain, France, Japan, and Italy were given permanent membership in the Council. 

The weak cohesion among the great powers was one of The League's major weaknesses.

The League did not fairly represent the political and geographical structure of the world.

Probably the most significant weakness of the League was the lack of credible instruments at its disposal to enforce its own decisions.

Cosmopolitanists have argued that the state and the state-centric political view have lost their “normative relevance” because of economic, social, technological, and environmental changes taking place in the world, and so a new system of world order, other than a state-system, should be established.

A “checks and balances system” does not exist in an authoritarian regime. The correct option is C.

A global community

The correct answer is C. Almost all the major conflicts that broke out in Europe were related to royal issues and unsettled dynastic successions, as in the cases of the Wars of the Spanish Succession, the Wars of the Austrian Succession and the Seven Years War. However, war-making was costly and the financial means of the European monarchs only allowed them to wage limited wars with restricted aims.

Global commons are defined as natural resources and areas that are outside the national jurisdiction. They are resource domains to which all nations have legal access. International law identifies four global commons, namely: Antarctica, the oceans, the atmosphere, and space. Choice (a) is the correct answer.

Starting with the early 1970s some world order scholars have come to be known as cosmopolitanists. They hold the views mentioned in the question.

One of the criticism leveled against the cosmopolitan approach is the cosmopolitanists’ notion of  distributive justice. A social order undoubtedly requires an understanding of distributive justice. However, it may be wrong to think that this understanding can be easily applied to the global level.

Wishful thinking is one of the criticism leveled against the functionalist approach, and is one of the criticism leveled against the legalist approach.

Therefore, the correct option is E.

Principles are beliefs of causation, fact, and rectitude.