Question 1

Contrary to classical economic theory, capitalism is now dominated by huge corporations that __________.

Accepted Answer

A)  act in the best interest of the majority of Americans 
B)  distribute wealth equally among managers and employees 
C)  respond to the demands of the market 
D)  control the demands of the market
Answer D

Question 2

The __________ are the people who occupy the most influential roles in society.
Answer power elite

Accepted Answer

The answer of The __________ are the people who occupy...

Question 3

Income inequality is __________ in the United States.
Answer increasing

Accepted Answer

The answer of Income inequality is __________ in the United...

Question 4

A __________ solution stems from the assumption that private profit maximizes public good.
Answer trickle-down

Accepted Answer

The answer of A __________ solution stems from the assumption...

Question 5

Which of the following is an example of a shared monopoly?

Accepted Answer

A)  Company A, Company B, and Company C together supply 20 percent of all mufflers in the United States. 
B)  Company X, Company Y, and Company Z together supply 60 percent of all beds in the United States. 
C)  Company B, Company U, and Company Y together supply 30 percent of all snow tires in the United States. 
D)  Company T, Company O, and Company Y together supply 45 percent of all doll dresses in the United States.
Answer B

Question 6

According to the text, capitalism rewards the efforts of all enterprising individuals.
Answer FALSE

Accepted Answer

A) True 
 B)False

Question 7

Political lobbyists represent a balance of viewpoints that legislators weigh in their decision making.
Answer FALSE

Accepted Answer

A) True 
 B)False

Question 8

Income inequality is increasing in the United States.
Answer TRUE

Accepted Answer

A) True 
 B)False

Question 9

__________ is a political system in which the will of the majority prevails and decisions are made to maximize the common good.

Accepted Answer

A)  Capitalism 
B)  Socialism 
C)  Democracy 
D)  Plutocracy
Answer C

Question 10

The relationship between U.S. foreign policy and corporate interests is demonstrated by which of the following actions?

Accepted Answer

A)  The embargo of the sales of military arms overseas 
B)  The government support of tyrannical governments if they support U.S. multinational corporations 
C)  The government policy of nonintervention in the domestic affairs of foreign governments to protect U.S. corporate interests 
D)  The government providing foreign aid that primarily goes to benefit the poor in other countries
Answer B

Question 11

Why it is problematic that the information we receive is increasingly under monopolized control? How do these monopolies affect social, cultural, and political landscape?

Accepted Answer

The answer of Why it is problematic that the information...

Question 12

According to the text, which of the following is a means through which power can be wielded?

Accepted Answer

A)  Consensus 
B)  Cooperation 
C)  Democracy 
D)  Control of Ideology
Answer D

Question 13

The implication in Chapter 2 is that oligarchs are likely also __________.

Accepted Answer

A)  socialists 
B)  plutocrats 
C)  Marxists 
D)  in poverty
Answer B

Question 14

__________ is the nation with the most millionaires.
Answer United States

Accepted Answer

The answer of __________ is the nation with the most...

Question 15

The average U.S. worker would have to work nearly __________to make a CEO's annual salary.

Accepted Answer

A)  41 years 
B)  62 years 
C)  233 years 
D)  421 years
Answer C

Question 16

Four or fewer companies control at least 60 percent of the light bulb market in the United States, which demonstrates a __________.
Answer shared monopoly

Accepted Answer

The answer of Four or fewer companies control at least...

Question 17

The economy of the United States is purely a free enterprise system.
Answer FALSE

Accepted Answer

A) True 
 B)False

Question 18

One strategic reason that multinational corporations move to developing countries is that __________.

Accepted Answer

A)  there are fewer regulations, which translates into more profits 
B)  the unemployment rate is much higher in developing countries 
C)  more regulations make factories safer for workers 
D)  there are fewer job seekers in the United States.
Answer A

Question 19

What did Karl Marx mean when he discussed the inherent contradictions of capitalism? What has the passage of time shown us about those hypothetical contradictions?

Accepted Answer

The answer of What did Karl Marx mean when he...

Question 20

Contributors of large sums of money to political campaigns receive which of the following benefits?

Accepted Answer

A)  Free publicity for their companies 
B)  Full tax exemptions 
C)  Influence over the positions of politicians on public issues 
D)  Free trips with the candidate to national events
Answer C

Exam 2: Wealth and Power: the Bias of the System

Contrary to classical economic theory, capitalism is now dominated by huge corporations that __________.

The __________ are the people who occupy the most influential roles in society. Answer power elite

Income inequality is __________ in the United States. Answer increasing

A __________ solution stems from the assumption that private profit maximizes public good. Answer trickle-down

Which of the following is an example of a shared monopoly?

According to the text, capitalism rewards the efforts of all enterprising individuals. Answer FALSE

Political lobbyists represent a balance of viewpoints that legislators weigh in their decision making. Answer FALSE

Income inequality is increasing in the United States. Answer TRUE

__________ is a political system in which the will of the majority prevails and decisions are made to maximize the common good.

The relationship between U.S. foreign policy and corporate interests is demonstrated by which of the following actions?

Why it is problematic that the information we receive is increasingly under monopolized control? How do these monopolies affect social, cultural, and political landscape?

According to the text, which of the following is a means through which power can be wielded?

The implication in Chapter 2 is that oligarchs are likely also __________.

__________ is the nation with the most millionaires. Answer United States

The average U.S. worker would have to work nearly __________to make a CEO's annual salary.

Four or fewer companies control at least 60 percent of the light bulb market in the United States, which demonstrates a __________. Answer shared monopoly

The economy of the United States is purely a free enterprise system. Answer FALSE

One strategic reason that multinational corporations move to developing countries is that __________.

What did Karl Marx mean when he discussed the inherent contradictions of capitalism? What has the passage of time shown us about those hypothetical contradictions?

Contributors of large sums of money to political campaigns receive which of the following benefits?