Deck 16: The Economy and Work

Question 1

Socialism has spread around the world to the point that, today, a majority of the world's nations have a socialist economic system.

Answer 1

False

Question 2

The concept "state capitalism" refers all productive enterprises in a country being owned by the government.

Answer 2

False

Question 3

The invention of the corporation is generally taken as the point at which a postindustrial society emerged.

Answer 3

False

Question 4

The concepts "primary sector," "secondary sector," and "tertiary sector" refer to how productive a sector is in terms of economic value.

Question 5

Less than 2 percent of today's U.S.labor force works in agriculture.

Question 6

Socialism is also called a "laissez-faire" economic system.

Question 7

Adam Smith's idea was that, in a capitalist system, government tells businesses what to produce and consumers what to buy.

Question 8

Capitalism is more productive than socialism, and capitalism also creates greater economic inequality.

Question 9

Compared to agricultural work, industrial jobs involve less specialization.

Question 10

The Information Revolution has concentrated workers in offices, drawing people from a wide region into dense, central cities.

Question 11

The economy organizes the production, distribution, and consumption of goods and services.

Question 12

Agricultural production is part of the primary sector of the economy.

Question 13

Taken together, local, state, and federal governments are the U.S.'s largest single employer.

Question 14

Socialist economies create greater economic equality than capitalist economies, but with a lower overall living standard.

Question 15

Although there are many privately-owned companies in the United States, most of the U.S.economy is owned and operated by the government.

Question 16

One key to industrialization was creating new sources of energy.

Question 17

The economy did not emerge as a distinct social institution until the Industrial Revolution.

Question 18

The global economy pays little regard to national borders.

Question 19

Combining a market-based economy with an extensive social welfare program yields what is called "welfare capitalism."

Question 20

The Information Revolution requires workers to gain literacy skills instead of the mechanical skills that were important during the Industrial Revolution.

Question 21

The self-employed are more likely to have blue-collar jobs than white-collar jobs.

Question 22

One effect of computer technology is giving workers greater power over their employers.

Question 23

In recent years, the lowest unemployment rates in the United States have been among teenagers.

Question 24

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Question 25

Conglomerates are giant corporations composed of many smaller corporations.

Question 26

In the United States, union membership is higher today than ever before.

Question 27

The U.S.workforce is becoming more "white," even as immigration rates rise.

Question 28

Which social institution do most sociologists claim has the greatest effect on society as a whole?

A)the family
B)the economy
C)the political system
D)religion

Question 29

Large corporations dominate many markets in the global economy.

Question 30

A corporation is an organization with a legal existence apart from that of its members.

Question 31

The use of computers by workers tends to limit workplace interaction.

Question 32

Most self-employed persons are professionals.

Question 33

Prostitution and selling illegal drugs are typically part of the underground economy.

Question 34

Denmark is an example of a European nation with a system of welfare capitalism in which high taxes pay for extensive government-provided benefits.

Question 35

Over the course of human history, revolutionary changes in which of the following have brought great changes to the economy?

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

Question 36

Oligopoly refers to any company that operates in more than one country.

Question 37

As a social institution, the economy

A)produces and distributes goods and services.
B)guides the consumption of goods and services.
C)operates in a relatively predictable manner.
D)All of these are correct.

Question 38

A recent trend in the United States is a steady rise in the share of small businesses owned by women.

Question 39

Monopoly refers to a corporation that operates within a single sector of the economy.

Question 40

The concept "paraprofessional" refers to work that requires skills, but typically lacks a broad theoretical knowledge of a field.

Question 41

The Industrial Revolution was based on

A)the spread of cottage industry.
B)people beginning to work in their homes.
C)a decrease in productive specialization.
D)new sources of energy.

Question 42

As societies industrialize, a smaller share of the population works in which of the following locations?

A)farms
B)factories
C)assembly lines
D)All of these are correct.

Question 43

The expansion of office work marks the growth of the economy's

A)primary sector.
B)secondary sector.
C)tertiary sector.
D)None of these are correct.

Question 44

The text describes three technological revolutions that transformed all of social life.Which of the following is NOT one of them?

A)the Agricultural Revolution
B)the Industrial Revolution
C)the Immigration Revolution
D)the Information Revolution

Question 45

Globalization of the economy means that

A)world regions specialize in one sector of economic activity.
B)more and more products pass through several nations.
C)a small number of businesses represent a huge share of global economic output.
D)All of these are correct.

Question 46

In a capitalist economic system, "justice" amounts to

A)doing what is best for society's poorest members.
B)everyone being more or less economically equal.
C)freedom of the marketplace allowing people to follow their self-interest.
D)All of these are correct.

Question 47

Which of the following statements about the Information Revolution is NOT correct?

A)There was a shift from making tangible products to generating ideas.
B)There was a shift from mechanical skills to literacy skills.
C)There was a shift from farming to turning raw materials into finished products.
D)There was a shift from working in factories to working almost anywhere.

Question 48

The concept of "global economy" refers to

A)economic activity that moves across national borders.
B)the fact that only a few countries now contribute to the global economy.
C)the fact that economic output is under the control of global political leadership.
D)All of these are correct.

Question 49

What sector of the economy generates raw materials directly from the natural environment?

A)primary sector
B)secondary sector
C)tertiary sector
D)None of these are correct.

Question 50

Early factories in New England, where the Industrial Revolution first developed in the United States

A)employed women for half the wages paid to men.
B)manufactured textiles.
C)discouraged any worker organizations.
D)All of these are correct.

Question 51

In the United States, about what percentage of the labor force performs tertiary sector work?

A)15 percent
B)35 percent
C)55 percent
D)85 percent

Question 52

The postindustrial economy is defined by

A)the spread of factories.
B)mass production of goods and services.
C)manufacturing of raw materials.
D)service work and computer technology.

Question 53

The economy first became a distinct social institution during which historical stage of technological development?

A)hunting and gathering societies
B)agrarian societies
C)industrial societies
D)postindustrial societies

Question 54

Capitalism is an economic system in which there is

A)government control of production.
B)private ownership of property.
C)pursuit of collective goals.
D)All of these are correct.

Question 55

The development of agriculture was set in motion by

A)changes in the church.
B)using animals to pull the plow.
C)the discovery of writing.
D)the discovery of oil.

Question 56

Which of the following concepts refers to an economy based on computer technology?

A)postindustrial economy
B)industrial economy
C)technological economy
D)agrarian economy

Question 57

The social thinker whose ideas supported the operation of a free-market economy most was

A)Thorstein Veblen.
B)Adam Smith.
C)Karl Marx.
D)Max Weber.

Question 58

Which of the following new sources of energy launched the Industrial Revolution?

A)the gasoline engine
B)the steam engine
C)wind power
D)electricity

Question 59

Looking at economies around the world, the primary sector is the largest in

A)high-income nations.
B)middle-income nations.
C)low-income nations.
D)It is the same size in all nations.

Question 60

Turning metals into automobiles is work that falls within the

A)primary sector.
B)secondary sector.
C)tertiary sector.
D)All of these are correct.

Question 61

In a socialist economic system, "justice" amounts to

A)trying to meet the basic needs of all in a equal manner.
B)doing whatever helps boost company earnings.
C)freedom of the marketplace.
D)All of these are correct.

Question 62

Yesterday's family farms have given way to

A)importing most foods from abroad.
B)collectively-run farming communes.
C)corporate agribusinesses.
D)smaller, individually-run farms.

Question 63

What is the hypothetical economic and political system in which all people in society are socially equal?

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

Question 64

The United States is a mostly capitalist nation because

A)the vast majority of productive businesses are privately owned.
B)we have a system of free elections.
C)of our high living standards.
D)of the extensive government control of the economy.

Question 65

An example of a European country with a mostly private economy and extensive social welfare programs is

A)Germany.
B)Sweden.
C)Spain.
D)All of these are correct.

Question 66

Contrasted to socialist economic systems, capitalist economic systems typically

A)generate more economic inequality.
B)generate less economic inequality.
C)generate about the same level of inequality.
D)do not generate any social equality.

Question 67

Which of the following concepts refers to a political and economic system that combines a mostly market-based economy with extensive social welfare programs?

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

Question 68

Concerning the issue of personal freedom, capitalist systems emphasize people's _____, while socialist systems emphasize people's _____.

A)collective needs; personal needs
B)freedom from basic want; freedom to pursue their self-interest
C)freedom to pursue their self-interest; freedom from basic want
D)social needs; material needs

Question 69

The concept "state capitalism" refers to a system in which

A)the government owns and operates most economic enterprises.
B)privately-owned companies cooperate closely with the government.
C)the government owns but does not operate most economic enterprises.
D)large businesses control the government.

Question 70

What percentage of today's U.S.workers are self-employed?

A)6.8 percent
B)26.8 percent
C)46.8 percent
D)66.8 percent

Question 71

The concept "primary labor market" refers to

A)jobs that provide extensive benefits to workers.
B)jobs typically taken by teenagers.
C)jobs that require no particular training or experience.
D)jobs that offer little pay and low security.

Question 72

Which of the following DOES NOT describe the operation of a socialist economy?

A)collective orientation
B)government control of production
C)laissez-faire economy
D)command economy

Question 73

Socialism is an economic system in which there is

A)collective control of production.
B)private ownership of property.
C)pursuit of individual profit.
D)All of these are correct.

Question 74

Contrasted to socialist economic systems, capitalist economic systems are typically

A)equally productive.
B)more productive.
C)less productive.
D)not concerned with productivity.

Question 75

Over the course of the last century, the number of people involved in agricultural work

A)has remained about the same.
B)has declined steadily.
C)has increased dramatically.
D)has stayed the same, although a larger share of workers are immigrants.

Question 76

In the United States about what share of the population aged sixteen and older is in the paid labor force?

A)18 percent
B)38 percent
C)58 percent
D)78 percent

Question 77

Which of the following countries best exemplifies a system of state capitalism?

A)the United States
B)Great Britain
C)Australia
D)Japan

Question 78

In recent decades, union membership

A)has risen in the United States and other high-income nations.
B)has risen in the United States, but not in other high-income nations.
C)has declined in the United States, but not in other high-income nations.
D)has declined in the United States and other high-income nations.

Question 79

By the early 1960s, most of the people in the U.S.labor force had which type of job?

A)white-collar
B)blue-collar
C)pink-collar
D)farming

Question 80

Read the four descriptions below.Which of them DOES NOT apply to a profession?

A)having theoretical knowledge of a field
B)working for a large, well-established company
C)having authority over clients
D)professing a community, rather than an individual, orientation