Deck 13: The Economy and Work in Global Perspective

Question 1

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

Answer 1

C

Question 2

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

Answer 2

C

Question 3

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

Answer 3

D

Question 4

Most workers in preindustrial economic structures engage in __________ production,which is the extraction of raw materials and natural resources from the environment.

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

Question 5

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 6

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 7

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 8

__________ 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 9

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 10

__________ 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 11

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 12

__________ 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 13

In March 2011,the unemployment rate was __________ percent and the number of people employed part-time for economic reasons was 8.3 million.

A) 5.9
B) 6.1
C) 7.3
D) 8.9

Question 14

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 15

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 the above

Question 16

__________ 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 17

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 18

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 19

__________ 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 20

__________ 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 21

__________ 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 22

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 23

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 24

__________ 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 25

__________ 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 26

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

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

Question 27

__________ 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 28

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 29

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 30

__________ is the largest nonfinancial U.S.transnational corporation.

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

Question 31

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

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

Question 32

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 33

__________ 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 34

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 35

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 36

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 37

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 38

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 39

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 40

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 41

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 42

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 43

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 44

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 45

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 46

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 47

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 48

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 49

__________ 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 50

Karl Marx referred to the propensity of capitalists to maximize profits by reducing wages as the __________,which he believed to be one of the inherent contradictions of capitalism that would produce its eventual downfall.

A) peak syndrome
B) inflation syndrome
C) expansion syndrome
D) falling rate of profit

Question 51

Political sociologist Michael Parenti believes that political leaders treat the health of the capitalist economy as a necessary condition for the health of the nation and that the goals of big business (rapid growth,high profits,and secure markets) become the goals of government.This is reflective of the __________ perspective.

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

Question 52

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 53

From a __________ perspective,business cycles are the result of capitalist greed.In order to maximize profits,capitalists suppress the wages of workers.As the prices of products increase,workers are not able to purchase them in the quantities that have been produced.

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

Question 54

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

Question 55

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 56

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 57

__________ 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 58

__________ 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 59

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 60

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 61

All of the following are characteristics of professions EXCEPT:

A) abstract, specialized knowledge
B) self-regulation
C) mechanization
D) autonomy

Question 62

Professionals are __________ in that they can rely on their own judgment in selecting the relevant knowledge or the appropriate technique for dealing with a problem.

A) autonomous
B) self-regulating
C) altruistic
D) specialized

Question 63

__________ are essential in contemporary bureaucracies,where work is highly specialized and authority structures are hierarchical.

A) Executives
B) Managers
C) Administrators
D) Chief Executive Officers (CEOs)

Question 64

The text points out that colleges of pharmacy in many universities have fought against __________ by upgrading the degrees awarded to pharmacy graduates from the traditional B.S.in pharmacy to a Ph.D.

A) specialization
B) deprofessionalization
C) administrative downgrading
D) the span of control

Question 65

Symbolic interactionists suggest that __________ factors include such things as vacation and holiday policies,parking privileges,on-site day-care centers,and other amenities that contribute to workers' overall perception that their employer cares about them.

A) extrinsic
B) latent
C) intrinsic
D) manifest

Question 66

The __________ labor market consists of high-paying jobs with good benefits that have some degree of security and the possibility of future advancement.

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

Question 67

The __________ labor market consists of low-paying jobs with few benefits and very little job security or possibility for future advancement.

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

Question 68

__________ occurs when workers' needs for self-identity and meaning are not met and when work is done strictly for material gain,not for a sense of personal satisfaction.

A) Self-estrangement
B) Alienation
C) Job anomie
D) Worker dissatisfaction

Question 69

__________ are high-status,knowledge-based occupations.

A) Professions
B) Central jobs
C) Primary work positions
D) Premium jobs

Question 70

Based on symbolic interactionist theory,job satisfaction refers to people's attitudes toward their work.All of the following are factors that contribute to workers' job satisfaction EXCEPT:

A) their job responsibilities
B) the organizational structure in which they work
C) their individual needs and values
D) the level of anomie

Question 71

In regard to the relationship between parental education and income,and children's scores on college admissions tests such as the SAT,the text notes that:

A) the higher the parental education and income, the greater the likelihood that children's scores will be high
B) when parents have mid?range levels of education and income, children have the greatest likelihood of making the highest scores
C) when parents have low levels of education and income, children have the greatest likelihood of making the mid?range scores
D) there is no relationship between parental education and income and children's scores on such tests

Question 72

Symbolic interactionists point out that job satisfaction often is related to __________ factors that pertain to the nature of the work itself.

A) manifest
B) intrinsic
C) latent
D) extrinsic

Question 73

A worker who earns 65 cents an hour and works 84 hours a week in a U.S.garment factory exemplifies employment in the:

A) primary labor market
B) central labor market
C) tertiary labor market
D) secondary labor market

Question 74

__________ are categories of jobs that involve similar activities at different work sites.

A) Occupations
B) Work titles
C) Professions
D) Job descriptions

Question 75

Which of the following statements regarding management in bureaucracies is FALSE?

A) Managers are essential in contemporary bureaucracies.
B) Workers at each level of the hierarchy take orders from their immediate supervisor.
C) Workers never give orders to subordinates.
D) Upper-level managers are typically responsible for coordination of activities and control of workers.

Question 76

Occupations such as pharmacist have already been:

A) administratively downgraded
B) deskilled
C) deemphasized
D) eliminated

Question 77

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

A) depersonalization
B) administrative downgrading
C) specialization
D) deprofessionalization

Question 78

Professionals are __________ in that they have licensing,accreditation,and regulatory associations that set professional standards and that require members to adhere to a code of ethics as a form of public accountability.

A) autonomous
B) self-regulating
C) altruistic
D) specialized

Question 79

Ideally,professionals go beyond their self-interest or personal comfort so that they can help a patient or client.This illustrates the __________ of professions.

A) autonomy
B) specialized knowledge
C) altruism
D) authority

Question 80

According to __________ theorists,work is an important source of self-identity for many people; it can help people feel positive about themselves,or it can cause them to feel alienated.

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