Question 1

In the pre-1990 Soviet economy, no workers were allowed to choose their jobs.

Accepted Answer

A) True 
 B)False

Question 2

Adam Smith's concept of the invisible hand refers to:

Accepted Answer

A)  government controls. 
B)  import and export costs. 
C)  the rise and fall of prices that guide individual actions in a market. 
D)  the combined impact of foreign trade and aid on a national economy. 
A)  government controls. 
B)  import and export costs. 
C)  the rise and fall of prices that guide individual actions in a market. 
D)  the combined impact of foreign trade and aid on a national economy.

Question 3

Louis Blanc argued that an individual had an inherent right to a decent job.

Accepted Answer

A) True 
 B)False

Question 4

The demand curve, DD, shows the amount of a good buyers would be willing to purchase at different prices in the market on a certain day.

Accepted Answer

A) True 
 B)False

Question 5

Charles Fourier and Robert Owen were:

Accepted Answer

A)  laissez-faire economists. 
B)  Soviet economists. 
C)  free-market proponents. 
D)  utopian socialists. 
A)  laissez-faire economists. 
B)  Soviet economists. 
C)  free-market proponents. 
D)  utopian socialists.

Question 6

Louis Blanc was one of the originators of:

Accepted Answer

A)  capitalism. 
B)  unplanned economics. 
C)  socialism. 
D)  mixed economics. 
A)  capitalism. 
B)  unplanned economics. 
C)  socialism. 
D)  mixed economics.

Question 7

The "rule of law" in the U.S. limits the government's ability to change:

Accepted Answer

A)  property rights. 
B)  tax rates. 
C)  economic structures. 
D)  the supply and demand curve. 
A)  property rights. 
B)  tax rates. 
C)  economic structures. 
D)  the supply and demand curve.

Question 8

Planned economies are problem free.

Accepted Answer

A) True 
 B)False

Question 9

Allowing the market to operate with a minimum of government regulation is called:

Accepted Answer

A)  laissez-faire. 
B)  socialism. 
C)  controlled choice. 
D)  quota planning. 
A)  laissez-faire. 
B)  socialism. 
C)  controlled choice. 
D)  quota planning.

Question 10

Laissez-faire means allowing the market to operate with a maximum of government regulation.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is not a determination that an economy must perform?

Accepted Answer

A)  The kinds of goods to be produced. 
B)  The amount of each good to be produced. 
C)  The resources that are to be allocated to its output. 
D)  The storage of the goods for those who are to enjoy them. 
A)  The kinds of goods to be produced. 
B)  The amount of each good to be produced. 
C)  The resources that are to be allocated to its output. 
D)  The storage of the goods for those who are to enjoy them.

Question 12

What were the reasons Soviet-style socialism was abandoned?

Accepted Answer

The reasons the Soviet-style socialism w

Question 13

What are the major transitions in the history of Western economic systems? What have all modern economic systems evolved into today?

Accepted Answer

The early economic system of the Western

In the pre-1990 Soviet economy, no workers were allowed to choose their jobs.

Adam Smith's concept of the invisible hand refers to:

Louis Blanc argued that an individual had an inherent right to a decent job.

The demand curve, DD, shows the amount of a good buyers would be willing to purchase at different prices in the market on a certain day.

Charles Fourier and Robert Owen were:

Louis Blanc was one of the originators of:

The "rule of law" in the U.S. limits the government's ability to change:

Planned economies are problem free.

Allowing the market to operate with a minimum of government regulation is called:

Laissez-faire means allowing the market to operate with a maximum of government regulation.

Which of the following is not a determination that an economy must perform?

What were the reasons Soviet-style socialism was abandoned?

What are the major transitions in the history of Western economic systems? What have all modern economic systems evolved into today?

Social Science and Its Methods

Human Origins

Origins of Western Society

Society, Culture, and Cultural Change

Geography, Demography, Ecology, and Society

Technology and Society

Psychology, Society, and Culture

Deviance, Crime, and Society

The Family

Religion

Education

Social and Economic Stratification

Stratification, Minorities, and Discrimination

The Functions and Forms of Government

Governments of the World

Democratic Government in the United States

The Economy, Government, and Economic Challenges Facing the United States

International Political Relations

International Economic Relations

The Political Economies of Developing Countries

International Institutions and the Search for Peace

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Exam 17: The Organization of Economic Activities

In the pre-1990 Soviet economy, no workers were allowed to choose their jobs.

Adam Smith's concept of the invisible hand refers to:

Louis Blanc argued that an individual had an inherent right to a decent job.

The demand curve, DD, shows the amount of a good buyers would be willing to purchase at different prices in the market on a certain day.

Charles Fourier and Robert Owen were:

Louis Blanc was one of the originators of:

The "rule of law" in the U.S. limits the government's ability to change:

Planned economies are problem free.

Allowing the market to operate with a minimum of government regulation is called:

Laissez-faire means allowing the market to operate with a maximum of government regulation.

Which of the following is not a determination that an economy must perform?

What were the reasons Soviet-style socialism was abandoned?

What are the major transitions in the history of Western economic systems? What have all modern economic systems evolved into today?

Social Science and Its Methods

Human Origins

Origins of Western Society

Society, Culture, and Cultural Change

Geography, Demography, Ecology, and Society

Technology and Society

Psychology, Society, and Culture

Deviance, Crime, and Society

The Family

Religion

Education

Social and Economic Stratification

Stratification, Minorities, and Discrimination

The Functions and Forms of Government

Governments of the World

Democratic Government in the United States

The Economy, Government, and Economic Challenges Facing the United States

International Political Relations

International Economic Relations

The Political Economies of Developing Countries

International Institutions and the Search for Peace

Filters