Deck 12: Economics and Politics

Question 1

Which of the following represents concerns about Walmart in Canada?

A) Some people fear that local culture will be enhanced if Wal-Mart enters their communities.
B) Wal-Mart overemphasizes unionization.
C) Local businesses will benefit if Wal-Mart enters their communities.
D) Canadian people have formed a social movement to keep Wal-Mart out of their communities.
E) It is the largest employer in the world.

Answer 1

Canadian people have formed a social movement to keep Wal-Mart out of their communities.

Question 2

Social institutions:

A) refer to a major sphere of social life organized to meet human needs.
B) shape political life.
C) exclude the family and the education system.
D) include the economy and the health care system.
E) have changed dramatically over the course of human history.

Answer 2

include the economy and the health care system.

Question 3

Necessities and luxury items are referred to as:

A) goods.
B) currency.
C) services.
D) products.
E) consumables.

Answer 3

goods.

Question 4

Cars are classified as:

A) goods.
B) currency.
C) services.
D) products.
E) a public good.

Question 5

Being a professor is an example of:

A) goods.
B) currency.
C) services.
D) products.
E) a consumable.

Question 6

Which social institution was the centre of production and consumption in early human history?

A) the Church
B) government
C) the family
D) education
E) capitalism

Question 7

What is NOT a characteristic of agrarian societies?

A) They are far more productive than hunting and gathering societies.
B) Production is specialized.
C) Settlements are permanent.
D) There is less of a surplus than in hunting and gathering societies.
E) Settlement is urban.

Question 8

Which of the following is a factor in the emergence of the economy as a distinct social institution?

A) computer technology
B) cottage industry
C) specialization
D) nomadic movement
E) exploration

Question 9

A major development in the form of the ________ engine transformed the production of material goods.

A) rotary
B) wind-powered
C) steam
D) electrical
E) nuclear-powered

Question 10

Which of the following was a change brought about by the Industrial Revolution?

A) the decline of factories
B) manufacturing and mass production
C) decentralization of work from the cities to the suburbs
D) bartering
E) generalist work patterns

Question 11

Which of the following is one of the primary technological revolutions that transformed social life?

A) the agricultural revolution
B) the production revolution
C) the unionization revolution
D) the computer revolution
E) the service revolution

Question 12

The Industrial Revolution proceeded quickly after the discovery and development of ________ as an early, new source of energy.

A) horses
B) the steam engine
C) wind power
D) electricity
E) molecular power

Question 13

During human history, changes in ________ have created the greatest changes to the economy.

A) technology
B) the family
C) population size
D) natural resources
E) conflict

Question 14

What is the term for an economy based on service work and high technology?

A) post-industrial economy
B) technological economy
C) industrial economy
D) service economy
E) information economy

Question 15

Which of the following is one of the ways in which the information revolution has altered the character of work?

A) from ideas to tangible products
B) from literacy skills to mechanical skills
C) from specialization to centralization of work
D) from anywhere to factories
E) from service work to industrial work

Question 16

Success in a post-industrial economy requires an undergraduate curriculum with courses in which skill category?

A) communications
B) mathematical
C) agricultural
D) science
E) mechanical

Question 17

Mining gold for a living is a form of work in which production sector?

A) primary
B) tertiary
C) secondary
D) septiary
E) first

Question 18

What part of the economy transforms raw materials into manufactured goods?

A) primary sector
B) tertiary sector
C) secondary sector
D) septiary sector
E) formation sector

Question 19

Building homes for a living is part of which production sector?

A) primary sector
B) tertiary sector
C) secondary sector
D) septiary sector
E) formation sector

Question 20

Which of the following dominates the economies of high-income nations?

A) the primary sector
B) the secondary sector
C) the tertiary sector
D) agriculture
E) manufacturing

Question 21

The ________ sector is the part of the economy that involves services rather than goods.

A) primary
B) tertiary
C) secondary
D) septiary
E) final

Question 22

Globalization of the economy results in which of the following?

A) Each nation specializes in several sector of economic activity.
B) Fewer products pass through several nations.
C) A large number of businesses control a large share of the planet's economy.
D) Most of the economic output in low-income countries is in the service sector.
E) National governments no longer control economic activity within their borders.

Question 23

Teaching involves work in which production sector?

A) primary
B) tertiary
C) secondary
D) septiary
E) final

Question 24

What is the term for expanding economic activity that crosses national borders?

A) division of labour
B) multinational corporations
C) global economy
D) global village
E) post-industrial economy

Question 25

Which of the following is a major consequence of a global economy?

A) A large number of businesses, operating internationally, control a vast share of the world's economic activity.
B) A decreasing number of products pass through more than one nation.
C) Different regions of the world specialize in the same sectors of economic activity.
D) Nationhood becomes less important.
E) Governments increasingly control economic activity within their borders.

Question 26

National currencies are:

A) controlled by each nation.
B) controlled by the United Nations.
C) controlled by global markets.
D) out of control.
E) independently regulated.

Question 27

You wish to live in a society where production is concentrated in the primary sector. Which society should you select?

A) Asia
B) Russia
C) France
D) the United States
E) Canada

Question 28

You wish to live in a society where production is concentrated in the tertiary sector. Which society should you select?

A) China
B) Turkey
C) Greece
D) Asia
E) Canada

Question 29

Nationhood has:

A) lost much of its former significance.
B) decreased since World War II.
C) reduced global competition.
D) served as a deterrent to global war.
E) led to global cultural homogeneity.

Question 30

What is the economic system in which productive resources are privately owned?

A) capitalism
B) democratic socialism
C) socialism
D) communism
E) state democracy

Question 31

Which of the following societies has followed the ideas of economist Adam Smith most closely?

A) the United States
B) Cuba
C) Yugoslavia
D) North Korea
E) the former Soviet Union

Question 32

What is the economic system in which productive resources are collectively owned?

A) capitalism
B) democratic socialism
C) socialism
D) communism
E) reformationism

Question 33

Which of the following characterize capitalism?

A) pursuit of social profit
B) public ownership of property
C) consumer choice
D) cooperation
E) government control of the economy

Question 34

Capitalism is associated with:

A) economic equality.
B) political inequality.
C) pursuit of profit.
D) freedom from basic want.
E) freedom to pursue the public interest.

Question 35

Socialism is associated with:

A) political inequality.
B) economic productivity.
C) freedom from basic want.
D) economic inequality.
E) freedom to pursue self-interest.

Question 36

Select the characteristic that typifies the socialist economy.

A) personal ownership of property
B) pursuit of collective goals
C) laissez-faire economy
D) corporate control of the economy
E) full rights to own private property

Question 37

Sweden and Italy have what type of political and economic system?

A) capitalism
B) welfare capitalism
C) socialism
D) communism
E) state capitalism

Question 38

A country with a welfare capitalist system has what characteristic?

A) Business enterprise is extensively regulated.
B) Opportunities for private business are wide open.
C) It is possible "shelter" the bulk of one's wealth from taxation.
D) Less fortunate economic competitors are not assisted by the government.
E) Private health care insurance is available.

Question 39

What type of economic and political systems involve privately owned companies that cooperate closely with the government?

A) democratic socialism
B) welfare capitalism
C) entrepreneurial socialism
D) capitalism
E) state capitalism

Question 40

What country exemplifies state capitalism?

A) the United States
B) Australia
C) Japan
D) England
E) Canada

Question 41

If you attempted to evaluate the different economic models in order to discover which type is the best, you would soon discover that your job is extremely difficult because:

A) social democracies are new, providing little data to evaluate.
B) socialist economic systems have been tainted by communism.
C) all countries mix capitalism and socialism to varying degrees.
D) you're trying to compare apples to oranges-it simply cannot be done.
E) people are inherently biased in their evaluations.

Question 42

What is the term for the total value of all goods and services produced annually within a country's borders?

A) gross national output
B) gross national input
C) gross factory product
D) gross aggregate product
E) gross domestic product

Question 43

What economic implication can you draw from the per capita GDP figures of the predominantly capitalist industrialized countries, as opposed to the predominantly socialist industrialized countries during the 1980s?

A) No implications can be drawn.
B) Capitalism and socialism are equally productive.
C) Capitalism is less productive than socialism.
D) Socialism is less productive than capitalism.
E) GDP is too imprecise to allow comparisons.

Question 44

What conclusion can be drawn about per capita GDP and inequality?

A) Capitalist economies have a higher per capita GDP and greater income inequality.
B) Socialist economies have a higher per capita GDP and greater income inequality.
C) Capitalist economies have a lower per capita GDP and greater inequality.
D) Capitalist economies have a higher per capita GDP and less inequality.
E) No conclusions are possible.

Question 45

Which of the following is a reason for the fall of socialism in the former USSR and Eastern Europe?

A) Their economies had vastly over-produced, compared with capitalist economies.
B) The control of people was too rigid.
C) Their system eliminated political elites, but created economic elites.
D) Their living standards, while non-stratified, were too high.
E) Their system allowed their media too much freedom.

Question 46

What is true about recent changes in socialist countries?

A) Only about one-half of Eastern European countries have introduced market changes.
B) Market changes have led to a rising standard of living and increased economic inequality.
C) Market changes have led to greater economic growth and reduced inequality.
D) The Eastern European countries are making steady improvement.
E) Market changes have led to price decreases.

Question 47

Which of the following is true about the 2011 labour participation rate of those aged 15 and over in Canada?

A) A larger proportion of women than men had income-producing jobs.
B) The proportion of Aboriginal males in the labour force is somewhat greater than the proportion of non-Aboriginal males.
C) Among women, a much greater share of Aboriginal than visible minorities are employed.
D) About 18million people are engaged in the labour force.
E) About two-thirds of the population is engaged in the labour force.

Question 48

Politics refers to:

A) the distribution of power and societal decision making.
B) the system of elections.
C) a society's income distribution.
D) any country's formal government.
E) any country's traditional authority.

Question 49

In 2010, ________ percent of the Canadian labour force had jobs in the primary sector.

A) 4
B) 15
C) 25
D) 30
E) 40

Question 50

Today, close to ________ percent of those employed in Canada hold jobs in the service sector.

A) 33
B) 50
C) 60
D) 80
E) 90

Question 51

What is the term for organizations that seek to improve wages and working conditions for workers through such strategies as negotiations and strikes?

A) blue-collar organizations
B) special-interest groups
C) collective-bargaining groups
D) feminist organizations
E) labour unions

Question 52

In 2013, about ________ percent of the labour force were union members in Canada.

A) 5
B) 15
C) 23
D) 27
E) 50

Question 53

To maximize union membership in Canada, unions must focus on:

A) the self-employed.
B) blue-collar employees.
C) the service sector.
D) the wealthy worker.
E) male workers.

Question 54

A prestigious, white-collar occupation that requires extensive formal education is termed a:

A) profession.
B) white-collar occupation.
C) technical occupation.
D) career.
E) red-collar job.

Question 55

What job "characteristic"typifies a profession?

A) practical knowledge
B) lack of authority over clients
C) government-regulated practice
D) self-interest orientation
E) observing a code of ethics

Question 56

Which of the following would be considered a profession?

A) tennis players
B) inventory supply managers
C) a company CEO
D) lawyers
E) exterminators

Question 57

Many new service occupations in Canada have sought to enhance their standing in a process termed:

A) professionalizing.
B) white-collarizing.
C) upgrading.
D) service professionalism.
E) career ladder.

Question 58

In 2015, what percentage of Canada's labour force was self-employed?

A) 7 percent
B) 11 percent
C) 15 percent
D) 30 percent
E) just over half

Question 59

Which of the following is true about small business ownership in Canada?

A) Women now own one third of small businesses.
B) Women and men are about equal in their ownership of small businesses.
C) Very few women own small businesses in Canada.
D) Women own fewer small businesses now than they did in 1970.
E) Women own about the same number of small businesses now as they did in 1981.

Question 60

Of the groups below, which has the lowest unemployment rate?

A) Aboriginals
B) younger people
C) minority males
D) females
E) workers in Atlantic provinces

Question 61

Which of the following is one of the changes that will have to be made in order to meet the needs associated with increasing diversity in the workplace?

A) Reduce the recruitment of workers of both sexes and all cultural backgrounds.
B) Provide child care in schools.
C) Develop effective strategies to increase tension arising from social differences.
D) Eliminate affirmative action.
E) Rethink current promotion practices.

Question 62

Which of the following is one of the ways that computers are altering the character of work?

A) Computers are skilling labour.
B) Computers increase employers' control of workers.
C) Computers are making work more practical.
D) Computers enhance workplace interaction.
E) Computers increase the "hands-on" relationship workers have with their product.

Question 63

Of the more than 30 million businesses in North America, about ____ million are incorporated.

A) 6
B) 16
C) 150
D) 1600
E) 100 000

Question 64

What is the term for giant corporations that are composed of many smaller corporations?

A) multinational corporations
B) mega-corporations
C) macro-corporations
D) conglomerates
E) umbrella corporations

Question 65

What is the term for a social network made up of people who serve on the board of directors of many corporations?

A) conglomerate
B) monopoly
C) interlocking directorate
D) oligopoly
E) macro-corporations

Question 66

The domination of a market by a single producer is called a/an:

A) conglomerate.
B) monopoly.
C) interlocking directorate.
D) macro-corporation.
E) oligopoly.

Question 67

The domination of a market by a few producers is called a/an:

A) conglomerate.
B) monopoly.
C) interlocking directorate.
D) oligopoly.
E) macro-corporation.

Question 68

The impact of multinationals on poor societies is:

A) favourable, according to dependency theorists.
B) unfavourable, according to modernization theorists.
C) favourable, according to virtually all theorists.
D) unfavourable, according to virtually all theorists.
E) a point of tremendous scholarly controversy.

Question 69

What fact will our society have to face up to in the future with respect to Canada's economy?

A) The share of the labour force employed in manufacturing is still quite high.
B) Our economy does a good job of providing for its people.
C) The economic boom is evenly spread around the nation.
D) We need to put more emphasis on the national economy.
E) Millions of men and women lack the computer skills needed in the new economy.

Question 70

What is the term for the social institution that distributes power, sets a society's goals, and makes decisions?

A) legislature
B) authority
C) politics
D) economy
E) capitalist regime

Question 71

According to Max Weber, ________ is the ability to achieve desired ends despite resistance from others.

A) traditional authority
B) authority
C) rational-legal authority
D) power
E) negotiation

Question 72

Your friend acts in a manner of your choice, but against his own will. You have engaged in the exercise of:

A) traditional authority.
B) informal authority.
C) rational-legal authority.
D) power.
E) politics.

Question 73

According to Max Weber, power that people perceive as legitimate rather than coercive is:

A) rationality.
B) authority.
C) logic.
D) charisma.
E) force.

Question 74

The government justly wields power and is democratically elected, exemplifying:

A) traditional authority.
B) charismatic authority.
C) authority.
D) power.
E) force.

Question 75

Max Weber defined ________ as power legitimated by respect for long-established cultural patterns.

A) traditional authority
B) authority
C) rational-legal authority
D) charisma
E) force

Question 76

Max Weber defined ________ as power legitimized by legally enacted law.

A) traditional authority
B) authority
C) rational-legal authority
D) power
E) charismatic authority

Question 77

Rational-legal authority is sometimes called ________ authority.

A) traditional
B) charismatic
C) bureaucratic
D) logical
E) economic

Question 78

The government of Canada is an example of:

A) traditional authority.
B) coercive power.
C) charismatic authority.
D) economic authority.
E) rational-legal authority.

Question 79

Max Weber defined ________ as power legitimized through extraordinary personal abilities.

A) traditional authority
B) charismatic authority
C) the routinization of charisma
D) bureaucratic authority
E) coercive authority

Question 80

What is the term for the transformation of charismatic authority into traditional and bureaucratic authority?

A) charismatic makeover
B) bureaucratic ritualism
C) routinization of charisma
D) exercise of authority
E) coup