Realists insist that a hegemonic power is necessary for enforcing states to cooperate and that this cooperation may not continue in post hegemonic era, liberals focus that this cooperation would be persisting even after hegemony ended through institutions. The correct answer is B.

Tim Dunne (1998) argued that we need to take into account three preliminary articles in order to define the English School: 1) self-identification with a particular tradition of enquiry, meaning that if we are to speak for the existence of a distinct English School, there must be a collective self-identification among the members of the said school, 2) an interpretive approach, and 3) international theory as a normative theory rather than a positivist and explanatory theory. As the subtitle of his work, i.e., “a history of the English School”, showed; Dunne had no doubt about the existence and significance of the School, so that, it was time to write its history.

The correct answer is A.

The view that regimes generate differential benefits for states belongs to realists.

The approach of social contract is another important approach which should be regarded for normative thought. According to Locke and Rousseau, by forming a higher authority, individuals would accept voluntarily to leave their certain rights to preserve their freedoms and security (freedom of life).

While the General Agreement on Tariffs and Trade (GATT)was the treaty aimed at promoting liberal economic principles, and established the most comprehensive trade agreement in history, it became a formal institution in 1995 and was renamed the World Trade Organization. The WTO has the task of implementing the Uruguay Round of the negotiations conducted by GATT, serving as a forum for trade negotiations and providing a venue for trade review. It represents the states that conduct over 90 percent of the world's trade.

The critical question shaping in almost all aspects of Marxist theory is how the ways in which people earn their living affect their bodies, minds, and daily lives.

Marx believes that the system of economic production determines the institutional and ideological structure of society. Whoever controls the economic system also controls the political system. Each period of history contains clashing forces, or a dialectic, from which a new order emerges. In ancient times, there were patricians, free people and slaves; in the Middle Ages, there were feudal lords and vassals; and in the capitalist era, there are capitalists and workers. So for Marx, all history, indeed, is the history of class struggle between a ruling group and an opposing one from which a new economic, political, and social system emerges. Currently, capitalism is the main bondage from which people strive to be liberated and this will be occurring through the laws of historical social change.

American-Soviet relations in the post WW II era are considered to be a relatively stable example of bipolar balance in that despite constant tension during the Cold War era including certain crises such as the Cuban missile crisis, the two global superpowers were effective at maintaining the relative stability of this period.

The correct answer is A

The term “English School” was first coined by Roy Jones in a 1981 article titled as “The English School of International Relations: A Case for Closure”. Jones argued that a group of scholars, basically gathered at London School of Economics, could be taken as forming a distinct school of international relations and this school could be named as “English School”. Jones argued that the School did not make a significant contribution to the study of international relations and it was time to close it.

The illicit market refers, in a generic sense, to economic activities that circumvent the institutional rules. To be more specific, what makes a market illicit can either be the illegal nature of goods and services themselves, or the illegal ways of their transaction. The correct answer is "D".

crisis

That regimes flourish best when promoted and maintained by a benign hegemon is the one of the assumptions of liberal institutionalists.

Classic Marxist theory is essentially based on the evolution of capitalism and class conflict in the Western world. It is argued that the capitalism of 19th century in Europe emerged out of the earlier feudal system. In the capitalist system, private interests control labor and market exchanges.

Regarding the labor theory of value, given the fact that everything produced in the capitalist society has a price, Marx emphasizes the separation of the worker from the means of production. To survive, workers, who lack the means to produce, must sell their labor force. In selling their labor force, they give up all claims with respect to the products of their labor. Hence, these products become available for exchange in the market. Workers can consume only a small portion of the product in the market with the wages they are paid for their labor force.

It is a fact that after the end of the Cold War, the globalization of the world economy has been occurring at an extraordinarily rapid pace. Accompanying the process of globalization, however, it has appeared as a trend counter to the benign vision of economic and political harmony from more open borders. While it is true that in terms of national welfare, greater openness to competitive market forces, including competitive market forces from abroad, and greater freedom from artificial market restrains are closely associated with higher economic growth, as well as higher standards of living, there are basically five areas posing a serious challenge to economic globalization and the triumph of economic liberalism. These include high-tech trade rivalry, trade discrimination, unpredictable economic crises, North-South inequalities, and illicit market. As also understood from the information given, the correct answer is E. All of the areas in the options are posing a serious challenge to economic globalization and triumph of economic liberalism.

• High-Tech Trade Rivalry: As opposed to the predominant win-win nature of conventional trade interactions, special concerns have arisen about trade competition in high-tech sectors, such as telecommunications, advanced materials, computers, bio-chemicals, and so on. Economies of scale dictate that only a few countries actually enjoy the presence of a critical industry that has important economic and defense ramifications. From any country’s point of view, strategic trade industries are valuable not only because they incorporate a large proportion of high-wage, highskill jobs, but also because they are likely to generate economic, social, or defense-related benefits. Therefore, countries generally desire to ensure the presence of their own country’s companies in strategic industries.
• Trade Discrimination: As the world is moving toward internationalism fast in the post-Cold War era, it has become fashionable to argue that trade discrimination among nations is now over. This argument was also supported by the successful completion of the Tokyo (1973-1979) and Uruguay Rounds (19861994) of trade negotiations in the past. However, the observable reality is quite the otherwise. Even not counting the impact of natural determinants of trade patterns, such as geographic proximity or absolute size of the nations in question, we have seen the emergence of great trade blocs in Europe, the Western hemisphere, and Asia in the post-Cold War period.
• Unpredictable Economic: Crises Another serious issue is unpredictable economic crises. As argued above, international economic relations have become truly global in the post-Cold War world. Communications are instantaneous and the world economy operates on all continents simultaneously. Thus, wherever the origin of a crisis arises, it inevitably affects almost all countries of the world.
• North-South Division: The post-Cold War period also witnessed the resurgence of North-South economic antagonism, resulting from deep inequalities between the two sides. Not counting exceptions, the North, in general, refers to developed northern hemisphere countries, while the South refers to underdeveloped or developing southern hemisphere countries. Indeed, the North-South confrontation is not new. It has occurred before in international arena. However, in accordance with the decline of ideological clashes, it has recently begun to occupy a more significant agenda in international affairs (Yılmaz, 2012: 91).
• Illicit Market: Finally, the clandestine side of globalization in the post-Cold War era has showed itself in the rise of illicit market, or sometimes called black market. The illicit market refers, in a generic sense, to economic activities that circumvent the institutional rules. To be more specific, what makes a market illicit can either be the illegal nature of goods and services themselves, or the illegal ways of their transaction. Thus, illicit market activities may include the illegal movement of commodities to evade tariffs, trade restrictions and sanctions, or the illegal movements of the banned materials, like drugs, human organs, endangered species, even protected intellectual property.

According to Zacher, since states might not have control in certain fields anyway and have to accept foreign involvement, they might prefer to form international regimes in their own domain in order to escape/refrain from uncontrolled foreign interference. Thus, the correct answer is A.