Krasner noted that regimes should not be seen as provisional regulations changing according to the change of power and interest in international relations.

Keohane elaborating the concepts of hegemony and cooperation in the study titled as “After Hegemony”, stated that hegemonic leader would assist to establishing order. As well, he noted that hegemony and cooperation would not be opposite concepts since most of the international cooperation was raised in post-Second World War era, in which American hegemonic leadership was an issue. Therefore, the correct option is B.

According to Haas (1991: 23-24), regimes are products of efforts to conciliate the conflicting interests, and also consequences of developments through which mutual interdependencies would increase the cost for conflicting relations among nations.

Classical and structural realism are founded on same basic principles and differ from each other at certain points such as unit of analysis to be employed, conception of balance of power, or their view related to polarity of international system. What separates essentially neorealism from the classical tradition is that it gives no account of human nature and that it disregards the statecraft ethics. However, certain elements such as the existence of independent sovereign states operating in an international system characterized by anarchy constitutes a point of departure of neorealist arguments as well. The correct answer is C.

In the late 19^th century, the gold standard system was first adopted by the economically-developed nations, under the leadership of the Great Britain, the hegemonic power at that time. The gold standard was a monetary system where a country’s currency or paper money had a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that used the gold standard set a fixed price for gold and bought and sold gold at that price. That fixed price was used to determine the value of the national currency (Bryan, 2010). Until the First World War, most countries in Europe were on the gold standard. Yet with the war, the system collapsed, because of the declining power of Great Britain and of the terrible economic conditions during and after the war. Even though there were some efforts to return to the safety of the gold standard in the second part of the 1920s, this did not last long due to the stock market crash, or the Great Depression, in late 1929. Therefore, the interwar period was basically an era characterized by financial instability and low level of international trade, with no vivid economically hegemonic power. The Great Depression, the worst economic crisis in the history of the industrialized World, began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Then the Second World War erupted in late 1939, lasting about six years. Towards the end of the war, a stable finance and monetary system was aimed to be established by the Western countries fighting against Nazi Germany under the leadership of the United States. To that end, delegates from 44 countries met in the United States, in Bretton Woods, New Hampshire in July 1944. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was held from July 1-22, 1944. The main goals were to ensure a foreign exchange rate system, prevent competitive devaluation, encourage international trade, and eventually promote economic growth.

With the intention of realizing these goals, the Bretton Woods Agreement was signed on July 22, 1948, whereby the so-called Bretton Woods system came into being.

In 1958, the Bretton Woods system became fully functional, as national currencies became convertible. In order to convert currencies, countries settled their international balances in dollars, while United States dollars were fully convertible to gold. As also understood from the information given, the correct chronological order of the events in the options is “I, II, III, IV, V”, so the correct answer is A.

Immanuel Kant introduced the concept of Perpetual Peace.

Neoclassical realists agree with the neorealist assumption that the primary factors of foreign policy choices are the relative powers of states on an international level. This is then combined with the classical realist view of the importance of national level variables resulting in a complex implementation of both external and internal variables. As such, Randall Schweller stated that "Neoclassical realism is essentially the only game in town for the current and next generation of realists".

Theory of International regimes has been criticized in different aspects, some of these critiques are acceptance of the states as basic actors and ignorance of the non-state actors. While the advocators of regime theories reply that even these actors might be influential in political process, in final stage the states do make the decision as a dominant actor in IR, which are determined through power relations. Some critics of the theory claim that regime theory can only be applied to liberal states. But the defenders of this theory respond that all states, more or less at least for some issues, would need a regime in IR. As noted earlier, increasing economic welfare and security concerns would enforce the states to sacrifice some of their powers emanating from sovereignty. Therefore, the correct option is A.

Uruguay Round took seven and a half years, almost twice the original schedule. By the end, 123 countries were taking part. It covered almost all trade, from toothbrushes to pleasure boats, from banking to telecommunications, from the genes of wild rice to AIDS treatments. It was the largest
trade negotiation ever, and most probably the largest negotiation of any kind in history.

Utilitarian philosophy assumes that the individual who works for his own utility, automatically works for the utility of community. 

Some liberal economists go further than extolling the economic benefits of MNCs, pointing a positive relationship between the international liberal economy and peace. It is argued that through enhanced international trade and growing interdependence, national differences would vanish and increasing economic well-being would eventually lead to world peace (Mingst and Arreguin-Toft, 2011).

Financial stability is very important for the growth and expansion of international trade. In order to achieve financial stability, in the late 19th century, the gold standard system was adopted by the economically-developed nations, under the leadership of Great Britain, the hegemonic power at that time. The gold standard was a monetary system where a country’s currency or paper money had a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that used the gold standard set a fixed price for gold and bought and sold gold at that price. That fixed price was used to determine the value of the national currency. The correct answer is C.

Jeremy Bentham is one of the thinkers who claim that the principle of utilitarianism should be obeyed to reach to the best

It is remarkable that the economic north-south division has not yet led to military conflict, yet many critics see this issue as one main cause for the rise of terrorism in the 21st century as the power imbalance between the northern hemisphere and underdeveloped or developing nations in the southern hemisphere has also previously led to confrontation in the international arena.

All international institutions cannot be assumed as international regimes. International regimes are sub section of international institutions.

The principle of non-intervention involves the right of every sovereign State to conduct its affairs without outside interference; …“the principle forbids all States or groups of States to intervene directly or indirectly in the internal or external affairs of other States” and that “a prohibited intervention must accordingly be one bearing on matters in which each State is permitted, by the principle of State sovereignty, to decide freely. Intervention is wrongful when it uses methods of coercion in regard to such choices, which must remain free ones.”

Normative theories, essentially are related with the subjects of philosophy and ethic. Perpetual peace approach of Kant and European federation idea of J. J. Rousseau were interesting examples for normative studies.

Responding to some other critics about assumptions of international regime theories
set forth by functional theories, regime theories argue that:

Theory of international regime claims that functional theories are related to mutual interest but the regime theories are related to common interests.

Functional theories are intending to explain the relations between certain states in certain areas, in contrast regime theories are related to all community of states.

Besides, functional theories are not explaining clearly where, why and when states cooperate.

Thus, the correct answer is C.

Economic nationalism can be defined as a mixture of trade protectionism and economic planning, with an aim to preserve national interests in the context of world markets. Emerging as a response to economic crises, nationalist movements and enlarged states, nationalists see companies as elements of state power and therefore contributory to state wellbeing. More advanced nations therefore have a competitive advantage and therefore ''infant'' industries must be protected by the state from foreign competition