Deck 12: Problems of Work and the Economy

Question 1

U.S.multinational corporations have located plants producing goods for American markets in low wage,"third-world" nations.This phenomenon is called __________.

A)outreaching
B)exporting
C)outsourcing
D)importing
E)outlying

Answer 1

C

Question 2

American multinational corporations have increasingly exported capital and jobs.The American workers MOST hurt have had jobs in __________.

A)management
B)service industries
C)manufacturing
D)retailing
E)sales

Answer 2

C

Question 3

Multinational (or transnational)corporations are companies that __________.

A)have boards of directors of many nationalities
B)sell many products in a single place
C)are headquartered in one nation but pursue business activities or profits in one or more foreign nations
D)hire workers from many nations
E)have highly diversified stockholders

Answer 3

C

Question 4

The rights of workers in third-world nations can be increased if they __________.

A)are protected against repression by governments and powerful businesses
B)gain the power to bargain collectively
C)have their wages increased
D)All of the above
E)None of the above

Question 5

__________ refers to equipment of all kinds and to hourly or salaried labor.

A)Market
B)Goods
C)Capital
D)Services
E)Assets

Question 6

A capitalist who creates a new business venture is known as a/an __________.

A)marketer
B)wheeler-dealer
C)innovator
D)entrepreneur
E)accountant

Question 7

The text identifies the formation of a/an __________ as one major way of minimizing the risk to an entrepreneur.

A)trust
B)loophole
C)corporation
D)interlocking directorate
E)None of the above

Question 8

The Nike Corporation subcontracts with local employers for about 75,000 Asian workers to make Nike shoes,which are sold in the United States for more than $80 a pair.In some instances,11-year-old workers earn about __________ a day producing these shoes.

A)$2.20
B)$10.50
C)$24.75
D)$37.90
E)$45.00

Question 9

__________ workers represent the largest occupational category in the United States today.

A)White-collar
B)Professional
C)Manufacturing
D)Agricultural
E)Blue-collar

Question 10

When people refer to the American free-enterprise system,they are talking about an economic system known as __________.

A)Keynesianism
B)capitalism
C)marketism
D)modified socialism
E)oligopoly

Question 11

The main problem with "outsourcing" for American workers is that it __________.

A)exports jobs
B)makes consuming a full-time activity
C)lowers tariffs
D)increases taxes
E)increases competition

Question 12

Multinational companies have created a "global factory" that is made possible by two kinds of technology.The first allows things to be transported quickly from place to place.The second __________.

A)permits profits to be hidden from national governments
B)divides the production process into component operations that can be moved to areas of cheap labor
C)allows the fabrication of products from synthetic materials,lowering raw material costs
D)allows investors to recover investments rapidly in speculative markets
E)trains workers in a single language,facilitating managerial control

Question 13

The U.S.economy is undergoing rapid and dramatic changes that can be grouped into a few master trends.Which of the following is NOT one of these trends?

A)globalization of markets
B)growth in service-sector jobs in the advanced economies
C)continued export of manufacturing jobs to regions with lower wage rates
D)increasing reliance of families on the incomes of multiple workers
E)decreased reliance on specialization

Question 14

In the twentieth century,the United States moved from a/a n __________ to a /an __________ economy.

A)agricultural;sales-based
B)service;manufacturing
C)retailing;wholesaling
D)manufacturing;service-based
E)mass merchandising;mass marketing

Question 15

__________ means that only the assets of the corporation are liable to seizure in the case of economic failure or wrongdoing.

A)Limited liability
B)Corporate immunity
C)Interlocking directorate guarantee
D)Loophole
E)Open share

Question 16

The central social institutions of capitalism are __________.

A)markets
B)goods
C)services
D)taxes
E)equipment

Question 17

By 2007,about __________ percent of the labor force consisted of farming,forestry,and fishing workers.

A)22
B)12.2
C)9.2
D)5.2
E)2.2

Question 18

Singer,United Fruit,and Firestone are all American-based examples of __________.

A)shareholder diversification
B)citizen-controlled corporations
C)cooperatives
D)government-owned businesses
E)multinational or transnational corporations

Question 19

By 2007,about __________ percent of the labor force consisted of white-collar workers.

A)20
B)30
C)40
D)60
E)90

Question 20

By __________,social scientists refer to the growing tendency for goods and services to be produced in one nation or region and consumed in another,and for the companies that produce those goods and services to engage in business activities in many different regions of the world.

A)limited liability
B)economic globalization
C)multinationalism
D)corporate expansion
E)international economics

Question 21

Which of the following statements about employee benefits is TRUE?

A)Worker (and thus)family benefits are on the decline.
B)In 2008,59% of workers were provided with some form of employer-based health insurance.
C)The mandatory coverage provision in the healthcare law of 2010 is intended to increase the number of Americans with comprehensive health coverage.
D)In the first year of the 2008 recession,about 1.3 million adults lost employer-sponsored coverage.
E)All of the above.

Question 22

Today,the proportion of married women in the labor force is about __________ percent.

A)10.3
B)21.2
C)25.3
D)47.0
E)69.3

Question 23

The U.S.Bureau of Labor Statistics estimates that in July 2010,there were a total of ________ mass layoffs in different U.S.communities.

A)150
B)200
C)307
D)620
E)890

Question 24

Many workers experience short spells of unemployment;they may be temporarily laid off from a factory job due to factors such as seasons of the year or temporary responses of employers to falling demand for their products.Economists call this "__________ unemployment."

A)structured
B)cyclical
C)part-time
D)temporary
E)relative

Question 25

In 1970,there were 78 million men and women in the labor force;now there are __________ million.

A)100
B)130
C)154
D)170
E)over 200

Question 26

In 2008,__________ people reported that they were self-employed.

A)over 500,000
B)1 million
C)3 million
D)7 million
E)over 10 million

Question 27

As a category among blue-collar workers in the United States,__________ have DECREASED as a percentage of the blue-collar workforce.

A)unskilled laborers
B)semiskilled operatives
C)managers
D)skilled operatives
E)craftsmen

Question 28

In 1960,at the height of union influence in the United States,about 27 percent of employees in the private sector were members of trade unions.Today,about __________ percent are union members.

A)9
B)15
C)21
D)35
E)40

Question 29

Which of the following is an example of a massive layoff?

A)When an employer lays off employees who are union members.
B)When an employer lays off employees who don't apply for benefits.
C)When at least 50 employees are laid off by a single employer.
D)When an employer lays off at least 10 employees every season.
E)When unemployment is covered up by the government.

Question 30

Many social scientists argue that after the shift from manufacturing to service work,the single most significant trend in the labor force in the twentieth century was the __________.

A)enormous increase in women as paid workers
B)decline in farm work
C)increase in minority group members who are corporate executives
D)decline in blue-collar occupations
E)fluctuation in service-related work

Question 31

Which area remains the most dangerous work environment in the United States?

A)farming
B)metals production
C)auto and truck manufacturing
D)railroad work
E)mining

Question 32

In discussing women in the global labor market,the text points out that __________.

A)good jobs are incompatible with child-rearing roles
B)some women who are second job holders need that job because the first job is part time and does not provide sufficient earnings to make ends meet
C)although many women are highly motivated to work,outside employment has not released most of them from household and family tasks
D)All of the above
E)None of the above

Question 33

Most of the new white-collar jobs that have been created are in which occupational group?

A)sales and retailing
B)advertising and public relations
C)marketing and merchandising
D)professional and clerical
E)management and investment

Question 34

The U.S.economy lost about __________ million jobs between December 2007 and October 2009.

A)13.7
B)10.9
C)7.3
D)3.6
E)2.4

Question 35

Workers in the Bell Telephone system have blamed which development for eroding the
Family culture of "Ma Bell"?

A)computer technology
B)the shift from manufacturing to service
C)the increasing specialization of labor
D)the complexity of the division of labor
E)unionization

Question 36

One aspect of the shift from manufacturing to services is the growing importance of work that is not based on written employment contracts and regular hours,which is referred to as "__________" work.

A)casual
B)occasional
C)intermittent
D)contingent
E)non-

Question 37

The Dictionary of Occupational Titles lists about 22,000 types of jobs in the United States today,compared to the 325 jobs listed in the 1850 census.The vast difference indicates __________.

A)the increasing specialization of labor
B)the shift from manufacturing to service
C)the complexity of the division of labor
D)Both a and c
E)None of the above

Question 38

Once the largest occupational category in the United States,__________ are now the smallest.

A)manufacturing assemblers
B)farm workers
C)sales persons
D)clerical workers
E)professional workers

Question 39

Sociologists Stanley Aronowitz and William DiFazio argue that for millions of people in the older Western industrial nations,which are experiencing a combination of high rates of job elimination through automation and extensive exporting of less-skilled work to low-wage regions of the world,there will be what they refer to as a/an __________.

A)"technological crisis"
B)"downward rush of generations"
C)"jobless future"
D)"alienating miasma"
E)"depression collapse of psyche"

Question 40

After the global financial crisis of 2008,unemployment rates in the United States were __________.

A)above 10 percent
B)approximately 7 percent
C)approximately 5 percent
D)below 3 percent
E)below 2 percent

Question 41

The continuing crisis of __________ in the United States accounts for about half of all household bankruptcies.

A)home mortgages
B)credit card debt
C)auto loans
D)college loans
E)health-care coverage

Question 42

Which of the following is/are a/an important consequence(s)of unemployment?

A)declining participation in community life
B)correlated increases in mental hospital admissions,murder,and suicide
C)loss of income and sense of self-esteem
D)All of the above
E)None of the above

Question 43

In 2005,Congress passed the Sarbanes-Oxley bill,which imposes strict reporting requirements on __________.

A)managers
B)accountants
C)lawyers
D)corporate leaders and members of corporate boards
E)physicians

Question 44

A 1999 survey of workers' problems conducted by the National Institute for Occupational Safety and Health found which of the following to be reaching alarming levels?

A)alienation
B)injury
C)job stress
D)job insecurity
E)none of the above

Question 45

According to NIOSH,stress can be alleviated by ensuring that __________.

A)workloads are appropriate to workers' capabilities
B)clearly defining workers' roles
C)improved communication
D)establishing work schedules compatible with other life responsibilities
E)All of the above

Question 46

The greatest health hazard in the workplace comes from the __________ industry.

A)oil
B)chemical
C)electronics
D)steel
E)automobile

Question 47

In attempting to determine who was to blame for the 2008 housing bubble and the subsequent economic recession,all of the arguments below have been made,EXCEPT _______.

A)The government decreased its influence and oversight over the creation and trading of real estate derivatives.
B)Major financial institutions and insurance companies like AIG and Citigroup were financially negligent and had long planned to defraud innocent homeowners.
C)Corporate executives purchased stock options in their corporations and cashed in when they knew their companies' earnings records were falsified to give confidence to the public.
D)Tax cut legislation in 2001 cut federal revenues by at least $1.35 trillion dollars,partly by reducing taxes paid by the wealthy.
E)The rich have felt that it is good to become as wealthy as possible,taking little responsibility for the public good.

Question 48

One creative plan in today's workplace is sliding work hours or ___________.

A)flextime
B)liquid scheduling
C)rubber scheduling
D)pliable management
E)nonrestrictive hours

Question 49

A study of bankruptcies in the United States disproved a number of common myths,determining that __________.

A)"credit card junkies" account for less than 2 percent of bankruptcies
B)most people who go bankrupt are homeowners who can no longer pay their debts
C)about 10 percent of bankruptcies involve risky financial ventures
D)All of the above
E)None of the above

Question 50

__________ Americans die of job-related diseases each year.

A)Five to ten
B)Approximately 1,200
C)Around 10,000
D)About 50,000
E)At least 100,000

Question 51

In general,the unemployment rates for minorities tend to be twice as high as the rate for whites,a condition that is sometimes referred to as _____________ unemployment.

A)underlying
B)chronic
C)low education
D)depressed
E)displaced

Question 52

According to the text,among the drawbacks to a consumer-based economy is/are __________.

A)the dominance of large corporations and franchise operations
B)the rise of Mom and Pop restaurants
C)the unplanned spread of shopping malls
D)Both a and c
E)None of the above

Question 53

As workers in the United States and other industrialized nations organize to deal with occupational safety issues,there is more incentive for industries to __________.

A)fabricate safety policies
B)evade federal regulations
C)locate in low-wage regions of the world
D)go deeper in debt
E)become multinational corporations

Question 54

Which of the following did NOT significantly contribute to the housing crisis of 2008?

A)Home prices increased to levels rarely experienced in the past.
B)Many homeowners borrowed loans against their home equity to cover family expenses.
C)New housing loans made to risky applicants were sold by banks to larger firms,and the firms converted these loans to derivative funds.
D)Home prices abruptly plunged by 30 percent on average after the housing market peak in 2006.
E)In 2006,the Federal Government conducted a series of rigorous hearings to investigate the creation and sale of derivative funds.

Question 55

The text points out that workers who lose the capacity to express themselves in their work will experience __________.

A)job insecurity
B)alienation
C)rage syndrome
D)psychological withdrawal
E)suicidal tendencies

Question 56

The Frank-Dodd financial overhaul bill was proposed as a measure to put new rules and tools in place to prevent a repeat of the meltdown of 2008 that started the global recession.Which of the following were proposed as regulatory policies in the bill?

A)Regulation of the credit and debit card fee systems.
B)Verification of borrowers' ability to repay loans.
C)Creation of a federal bureau of Consumer Financial Protection.
D)Liquidation of failing financial institutions by the FDIC.
E)All of the above.

Question 57

The total debt held by low-income families in the United States is approaching $__________ billion.

A)200
B)400
C)700
D)800
E)900

Question 58

The primary source of alienation in modern work is __________.

A)the clash between a person's self-image and the requirements of his or her job
B)the images in the mass media to which workers are exposed
C)the differences between what a person thinks of his or her work performance and what the supervisor reports
D)the clash between the way a person's parents looked at work and the way that person sees the job
E)that modern work often involves work with ideas and people;less often with things

Question 59

__________ is the term used in the text in referring to the ever-greater economic interdependence of nations.

A)Globalization
B)Homogenization
C)Automation
D)The Global Village
E)International autonomy

Question 60

The text indicates that perhaps the most serious flaw of a consumer society involves __________.

A)the requirement of a ready availability of credit
B)too many banks
C)excessive emphasis on possessions
D)the prioritization of money
E)urbanization

Question 61

The free-enterprise system has been influenced by concentrated power.Who has held and exercised this power? How has the free-market been influenced?

Question 62

The United States is a "consumer society." What does this mean? What ramifications does this have for the way Americans live?

Question 63

There have been major changes in the structure of work in America,as,for example,some jobs increase in number while others decrease their share of the labor force.Describe these changes.How do they affect the opportunities available in the United States?

Question 64

Describe the problem of unemployment in the United States in the past decade.Be sure to include in your analysis the following: structural versus cyclical unemployment,intermittent and chronic unemployment,frictional unemployment versus permanent displacement,and the characteristics of the 'invisible' unemployed versus the concept of the displaced worker.

Question 65

What are the consequences of unemployment? Be sure to include the impact of economic recessions on unemployment.

Question 66

What are the major problem aspects of work? How do they affect other aspects of social life?

Question 67

Which of the following statements about the emergence of China in the global economy is TRUE?

A)China is making huge investments in its infrastructure and cities.
B)China is the world's largest consumer of fossil carbon,and is a major player in negotiation over control of greenhouse gas emissions.
C)China is still a threat to the West because it represents a model of authoritarian political control and state-controlled capitalism.
D)As China's economic power grows,its ruling authority (the Chinese Communist Party)may be forced to loosen its grip on that country's society.
E)All of the above.

Question 68

The 2008 economic recession was preceded by an era of financial risk,corporate crime,and lax regulation.Discuss the contribution of these events to the recession.

Question 69

The shrinking marketplace,conglomerates,multinational corporations,globalization,and the global factory are all terms describing important parts of the world economy.Define these terms and describe how they affect how business is conducted.

Question 70

What are conglomerates and multinational corporations? Give some specific examples.How do they change the ways in which business are transacted?

Question 71

What is automation? What are its major areas? What impacts will it have on the structure of work in the future?