Deck 13: The Economy and Work in Global Perspective

Question 1

The institution of slavery,which came about largely as a result of the demand for cheap agricultural labor,was a major force in the exploitation of many people of color,but it was particularly the women of color who suffered a double burden of oppression in the form of both sexism and racism.

Answer 1

True

Question 2

In Sweden,all residents have health insurance,housing subsidies,child allowances,paid parental leave,and day-care subsidies.National insurance pays medical bills associated with work-related injuries,and workplaces are specially adapted for persons with disabilities.

Answer 2

True

Question 3

A postindustrial economy is based on tertiary sector production-the provision of services rather than goods,as a primary source of livelihood for workers and profit for owners and corporate shareholders.A majority of U.S.jobs are in tertiary sector employment.

Answer 3

True

Question 4

There is really not much difference between sociologists who study the economy and economists.

Question 5

Sociologists focus on the complex workings of economic systems while economists focus on the interconnections among the economy and other social institutions.

Question 6

Certain professions are undergoing a process of deprofessionalization,in which some of the characteristics of a profession are eliminated.

Question 7

Government intervention in the past two decades included billions of dollars in subsidies to farmers,tax credits for corporations,and large subsidies or loan guarantees to automakers,aircraft companies,railroads,and others.Overall,most corporations have gained much more than they have lost as a result of government involvement in the economy.

Question 8

Labor refers to the group of people who contribute their physical and intellectual services to the production process in return for wages that they are paid by firms.

Question 9

In hunting and gathering societies,the economy becomes distinct from family life.The distribution process becomes more complex,with the accumulation of a surplus such that some people can engage in activities other than food production.

Question 10

Conflict theorists view the economy as a vital social institution because it is the means by which needed goods and services are produced and distributed.When the economy runs smoothly,other parts of society function more effectively.However,if the system becomes unbalanced,such as when demand does not keep up with production,maladjustment occurs (in this case a surplus).

Question 11

Interlocking directorates increase competition by producing dependence.Individuals who serve on multiple boards are often able to forge cooperative arrangements that benefit their corporations,but not necessarily the general public.

Question 12

Job satisfaction refers to people's attitudes toward their work based on their job responsibilities,
the organizational structure in which they work,and their individual needs and values.

Question 13

Most of us are not capitalists;we spend money on the things we own rather than make money from them.Only a relatively few people own income-producing property from which a profit can be realized by producing and distributing goods and services.

Question 14

The majority of U.S.jobs are in the tertiary employment sector.

Question 15

Professions are high-status,knowledge-based occupations that have five major characteristics: abstract,specialized knowledge;autonomy;self-regulation;authority;and altruism.

Question 16

Sociologists establish broad occupational categories by distinguishing between employment in the labor market.The secondary labor market consists of high-paying jobs with good benefits that have some degree of security and the possibility for future advancement.

Question 17

Urbanization brought about sweeping changes to the system of production and distribution of goods and services.In postindustrial economies,work becomes specialized and repetitive,activities become bureaucratically organized,and workers primarily worked with machines instead of with one another.

Question 18

Ideal capitalism is based on the pursuit of collective goals rather than on personal profits.Equality in decision-making replaces hierarchical relationships.Everyone shares in the goods and services of society,especially necessities such as food,clothing,shelter,and medical care,based on need,not on ability to pay.

Question 19

Today,many corporations are global in scope.Universal corporations are large corporations that are headquartered in several countries but sell and produce goods and services in only one country.

Question 20

In advanced monopoly capitalism,profits have become even more concentrated.Although some people own some stock,they do not own control;in other words,they are unable to participate in establishing the policies that determine the size of the profit or the rate of return on investments.

Question 21

In high-income nations today,many of the goods and services that we consume are information goods.Examples of information goods and services include:

A)the mass media
B)databases and surveys
C)computer software and the Internet
D)all of these choices

Question 22

Once a surplus is accumulated,more people can engage in trade.Initially,the surplus goods of preindustrial economies are distributed through a system of______________,which is the direct exchange of goods or services considered of equal values by the traders.

A)bargain
B)vendor supply
C)barter
D)line feeds

Question 23

Industrialization brings sweeping changes to the system of production and distribution of goods and services.______________refers to the processing of raw materials into finished goods.

A)Primary sector production
B)Secondary sector production
C)Tertiary sector production
D)Quartiary sector production

Question 24

Portions of contemporary sub-Saharan Africa have a relatively high rate of exports in commodities,and foreign direct investment is concentrated in mineral extraction.This is an example of production.

A)primary sector
B)secondary sector
C)tertiary sector
D)quartiary sector

Question 25

Contingent work is part-time work,temporary work,or subcontracted work that offers advantages to employers but that can be detrimental to the welfare of workers.

Question 26

Which of the following does NOT occur in industrial economies?

A)The division of labor is by age and gender and production is primarily related to producing food.
B)Work becomes specialized and repetitive,activities become bureaucratically organized and workers primarily work with machines.
C)Mass production results in larger surpluses that benefit some people and organizations but not others.
D)Goods and services become more unequally distributed because some people can afford anything they want and others can afford very little.

Question 27

______________ is the wealth (money or property)that is owned or used in business by a person or corporation.

A)Money
B)Property
C)Collateral
D)Capital

Question 28

______________ are intangible activities for which people are willing to pay (such as dry cleaning,a movie,or medical care).

A)Services
B)Goods
C)Labor
D)Products

Question 29

Due to the extremely high unemployment rates and the large number of individuals employed part- time due to economic reasons,the______________began in 2007-2008.

A)Great Depression
B)Minor Recession
C)Economic Downturn
D)Great Recession

Question 30

______________ refers to the group of people who contribute their physical and intellectual services to the production process in return for wages paid to them by firms.

A)Services
B)Labor
C)Brain-power
D)Human technology

Question 31

Steel workers who process metal ore and autoworkers,who then convert the ore into automobiles,trucks,and buses,are engaged in______________production.

A)quartiary sector
B)tertiary sector
C)secondary sector
D)primary sector

Question 32

______________ are tangible objects that are necessary (such as food,clothing,and shelter)or desired (such as DVDs and electric toothbrushes).

A)Products
B)Materials
C)Assets
D)Goods

Question 33

According to sociologist______________,those who got wealthy from industrialization often engaged in conspicuous consumption and conspicuous leisure.

A)Max Weber
B)Karl Marx
C)Robert Merton
D)Thorstein Veblen

Question 34

In 1990,the United States became the first nation to formally address the issue of equality for persons with a disability.When Congress passed the Americans with Disability Act (ADA),this law established "a clear and comprehensive prohibition of discrimination on the basis of disability."

Question 35

Subcontracted work is another form of contingent work that often cuts employers' costs at the expense of workers.Instead of employing a large work force,many companies have significantly reduced the size of their payrolls and benefit plans by subcontracting.

Question 36

Sometimes referred to as the "informal" or "shadow economy," one segment of the underground economy is made up of workers who are paid "off the books," which means that they are paid in cash,their earnings are not reported,and no taxes are paid.

Question 37

______________ is the social institution that ensures the maintenance of society through the production,distribution,and consumption of goods and services.

A)The power elite
B)Politics
C)The economy
D)Work

Question 38

Although the overall number of union members in the United States has decreased since the 1960s,the proportion of all employees who are union members has increased.Today,about 15 percent of all U.S.employees belong to unions or employee associations.

Question 39

Which of the following is NOT a characteristic of preindustrial economies?

A)In hunting and gathering societies,the production units are small and most goods are produced by family members.
B)In horticultural and pastoral societies,the economy becomes distinct from family life.
C)Most workers engage in primary sector production in preindustrial economies.
D)The distribution process becomes less complex with the accumulation of a surplus.

Question 40

The flamboyant display of symbols of wealth,such as owning numerous mansions and expensive works of art and wearing extravagant jewelry and clothing,are examples of:

A)conspicuous expenditure
B)conspicuous consumption
C)conspicuous waste
D)conspicuous absorption

Question 41

A postindustrial economy is based on______________production,which is the provision of services rather than goods as a primary source of livelihood for workers and profit for owners and corporate shareholders.

A)primary sector
B)secondary sector
C)tertiary sector
D)quartiary sector

Question 42

A(n)______________exists when several companies overwhelmingly control an entire industry.

A)monopoly
B)oligopoly
C)shared monopoly
D)conglomerate

Question 43

Under early monopoly capitalism (1890-1940),most ownership rapidly shifted to:

A)individuals
B)shareholder groups
C)corporations
D)bureaucracies

Question 44

Which of the following is NOT a characteristic central to the postindustrial economy?

A)Information displaces property as the central preoccupation in the economy.
B)Workplace culture shifts toward factories and away from increased diversification of work settings,the workday,and the employee.
C)Conventional boundaries between work and home (public life and private life)are breached.
D)Workplace culture shifts away from factories and toward increased diversification of work settings,the workday,and the employee.

Question 45

______________ are based on the right of individuals to own income-producing property,such as land, water,mines,and factories,and the right to "buy" people's labor.

A)Socialist economies
B)Capitalist economies
C)Imperialist economies
D)Communist economies

Question 46

A______________is a group of employees who join together to bargain with an employer or a group of employers over wages,benefits,and working conditions.

A)bargaining unit
B)labor oligopoly
C)corporate conglomerate
D)labor union

Question 47

In advanced______________(1940-present),ownership and control of major industrial and business sectors have become increasingly concentrated.

A)pure capitalism
B)democratic socialism
C)monopoly capitalism
D)socialism

Question 48

As automobile and steel plants shifted to mass production,workers perceived that their needs were not being met.In 1935,the______________was established to represent both skilled and unskilled workers in entire industries such as automobile manufacturing.

A)Knights of Labor
B)Congress of Industrial Organization
C)Teamsters
D)American Federation of Workers

Question 49

______________ includes a wide range of activities,such as fast-food service,transportation,communication,education,real estate,advertising,sports,and entertainment.

A)Primary sector production
B)Secondary sector production
C)Tertiary sector production
D)Quartiary sector production

Question 50

As workers grew tired of toiling for the benefit of capitalists instead of for themselves,some of them banded together to form the first national labor union,the______________,in 1869.

A)AFL-CIO
B)Teamsters
C)Knights of Labor
D)American Federation of Government Employees

Question 51

______________ is an economic system characterized by private ownership of the means of production,from which personal profits can be derived through market competition and without government intervention.

A)Capitalism
B)Socialism
C)Imperialism
D)Authoritarianism

Question 52

All of the following are distinctive features of "ideal" capitalism EXCEPT:

A)private ownership of the means of production
B)pursuit of personal profit
C)competition
D)a guarantee of government intervention

Question 53

In theory,______________acts as a balance to excessive profits.When producers vie with one another for customers,they must be able to offer innovative goods and services at aggressive prices.

A)competition
B)communism
C)capitalism
D)conspicuous monopoly

Question 54

______________ are large companies that are headquartered in one country but sell and produce goods and services in many countries.

A)Interlocking directorates
B)Economic concentrations
C)Transnational corporations
D)Capitalist intermonopolies

Question 55

______________ is the world's largest corporation.

A)Wal-Mart
B)Phillip Morris
C)General Motors
D)Exxon/Mobil

Question 56

In 1937,______________held their first sit-down strike.The workers occupied the facilities,but refused to work,thus paralyzing production.The sit-down strike represented a new approach that came to dominate U.S.labor activism.

A)McDonald's workers
B)Hewlett-Packard workers
C)General Motors workers
D)Wal-Mart workers

Question 57

According to the Census Profiles in your text,a majority of U.S.jobs are in what sector of employment?

A)primary
B)secondary
C)underground
D)tertiary

Question 58

______________ are large-scale organizations that have legal powers,such as the ability to enter into contracts and buy and sell property separate from their individual owners.

A)Corporations
B)Bureaucracies
C)Conglomerates
D)Interlocking directorates

Question 59

In a postindustrial economy,traditional boundaries between work and home (public and private life)no longer exist because:

A)digital technologies such as cell phones and computers make global communication possible
B)the McDonaldization of the workplace has become the norm
C)of the liberation of the working class
D)working classism no longer exists

Question 60

The______________,founded in 1886,targeted groups of skilled workers such as plumbers and carpenters.

A)Teamsters
B)American Federation of Labor (AFL)
C)Congress of Industrial Organizations (CIO)
D)American Federation of Government Employees

Question 61

Corporations with control both within and across industries are often formed by a series of mergers and acquisitions across industries.These corporations are referred to as______________,which are combinations of businesses in different commercial areas,all of which are owned by one holding company.

A)monopolies
B)conglomerates
C)shared monopolies
D)interlocking corporate directorates

Question 62

______________ include U.S.automobile manufacturers (referred to as the "Big Three")and cereal companies (three of which own 77 percent of the market).

A)Shared monopolies
B)Conglomerates
C)Monopolies
D)Oligopolies

Question 63

According to the______________perspective,the economy is a vital social institution because it is the means by which needed goods and services are produced and distributed in a society.

A)symbolic interactionist
B)postmodernist
C)functionalist
D)conflict

Question 64

Companies such as Time Warner and Viacom have extensive holdings in radio and television stations,cable television companies,book publishing firms,and film production and distribution companies.These companies are referred to as:

A)monopolies
B)interlocking corporate directorates
C)shared monopolies
D)conglomerates

Question 65

In______________,resources are converted from state ownership to private ownership;the government takes an active role in developing,recognizing,and protecting private property rights.

A)monopolization
B)privatization
C)centralized decision making
D)the pursuit of collective goals

Question 66

The______________made it illegal for a person to sit simultaneously on the boards of directors of two corporations that are in direct competition with each other.

A)Brown Anti-conglomerate Act of 1914
B)Smith Anti-conglomerate Act of 1914
C)Clayton Antitrust Act of 1914
D)Clinton Antitrust Act of 1914

Question 67

______________ refers to an economic and political system that combines private ownership of some of the means of production,governmental distribution of some essential goods and services,and free elections.

A)Democratic socialism
B)Socialism
C)Capitalism
D)Social capitalism

Question 68

The policy of______________,which means "leave alone," was advocated by economist Adam Smith in his 1776 treatise An Inquiry into the Nature and Causes of Wealth of Nations.

A)pro-conglomeration
B)anti-conglomeration
C)faux pas
D)laissez-faire

Question 69

During______________,plants are built,raw materials are ordered,workers are hired,and production increases.In addition,upward social mobility for workers and their families becomes possible.

A)a trough
B)a recession
C)inflation periods
D)an expansion period

Question 70

Recently,some analysts have suggested that the United States has assumed many of the characteristics of a(n)______________(a state that uses extensive government action to provide support and services to its citizens)as it has attempted to meet the basic needs of older persons,young children,unemployed people,and persons with a disability.

A)oligopolistic state
B)welfare state
C)mixed economy
D)free enterprise system

Question 71

The American Dream of upward mobility is linked to peaks in the business cycle.Once the peak is reached,however,the economy turns down because too large a surplus of goods has been produced.This is due in part to______________,which refers to a sustained and continuous increase in prices.

A)a trough
B)a recession
C)inflation
D)expansion

Question 72

Competition is reduced over the long run by______________,where members of the board of directors of one corporation also sit on the board(s)of other corporations.

A)monopolies
B)shared monopolies
C)conglomerates
D)interlocking corporate directorates

Question 73

______________ is an economic system characterized by public ownership of the means of production,the pursuit of collective goals,and centralized decision making.

A)Socialism
B)Capitalism
C)Communism
D)A mixed economy

Question 74

An example of______________is the music industry,in which a few giant companies are behind many of the labels and artists known to consumers.

A)monopoly
B)conglomerate
C)oligopoly
D)shared monopoly

Question 75

Government ownership in Sweden is limited primarily to railroads,mineral resources,a public bank,and liquor and tobacco operations.The government is also heavily involved in providing services such as medical care,child care,and transportation.Sweden exemplifies:

A)socialism
B)social capitalism
C)democratic socialism
D)capitalism

Question 76

Which of the following theorists is most accurately associated with defining communism?

A)Adam Smith
B)Thorstein Veblen
C)Randall Collins
D)Karl Marx

Question 77

______________ combines elements of a market economy (capitalism)with elements of a command economy (socialism).

A)Democratic socialism
B)A mixed economy
C)Capitalistic socialism
D)An oligopoly

Question 78

A(n)______________exists when four or fewer companies supply 50 percent or more of a particular market.

A)monopoly
B)oligopoly
C)conglomerate
D)shared monopoly

Question 79

When fewer goods are produced,workers are laid off,credit becomes difficult to obtain,and people cut back on their purchases even more,fearing unemployment.Eventually this produces a distrust of the economy,resulting in______________,which is a decline in an economy's total production that lasts six months or longer.

A)a trough
B)recession
C)inflation
D)expansion

Question 80

The______________is the rise and fall of economic activity relative to long-term growth in the economy.

A)corporate process
B)peak-trough
C)corporate procedure
D)business cycle