Question 1

Identify and explain the distinguishing features of socialism, communism, and capitalism. Are they best understood as points on a single continuum?

Accepted Answer

Socialism, communism, and capitalism are

Question 2

Which approach is most committed to using the political economy to achieve economic and social equality?

Accepted Answer

A)  Corporatism 
B)  Liberalism 
C)  Socialism 
D)  Capitalism 
E)  Communism 
A)  Corporatism 
B)  Liberalism 
C)  Socialism 
D)  Capitalism 
E)  Communism

Question 3

The gross domestic product is

Accepted Answer

A)  the total value of all final goods and services produced by all the citizens of the state. 
B)  the total value of all final goods and services exported by a state. 
C)  the total value of all the goods and services produced or purchased by the government. 
D)  the value of a country's exports minus its imports. 
E)  the total value of all final goods produced within a state's territorial boundaries. 
A)  the total value of all final goods and services produced by all the citizens of the state. 
B)  the total value of all final goods and services exported by a state. 
C)  the total value of all the goods and services produced or purchased by the government. 
D)  the value of a country's exports minus its imports. 
E)  the total value of all final goods produced within a state's territorial boundaries.

Question 4

Which of the following is NOT a characteristic of a mixed economy?

Accepted Answer

A)  The value of most goods is established by supply and demand. 
B)  The state owns some major factors of production. 
C)  The state redistributes resources to the less successful actors. 
D)  The state regulates the behavior of private actors. 
E)  The state produces most of the important goods. 
A)  The value of most goods is established by supply and demand. 
B)  The state owns some major factors of production. 
C)  The state redistributes resources to the less successful actors. 
D)  The state regulates the behavior of private actors. 
E)  The state produces most of the important goods.

Question 5

In a market economy, the factors of production are controlled primarily by

Accepted Answer

A)  the state. 
B)  private economic actors. 
C)  a balance of state and private actors. 
D)  banks and other financial institutions. 
E)  those who sell manufactured goods. 
A)  the state. 
B)  private economic actors. 
C)  a balance of state and private actors. 
D)  banks and other financial institutions. 
E)  those who sell manufactured goods.

Question 6

Which of the following is committed to a significant reduction in economic inequalities, but not to total economic equality?

Accepted Answer

A)  Socialism 
B)  Fascism 
C)  Communism 
D)  Corporatism 
E)  Capitalism 
A)  Socialism 
B)  Fascism 
C)  Communism 
D)  Corporatism 
E)  Capitalism

Question 7

Adam Smith's concept of the "invisible hand" describes

Accepted Answer

A)  the large corporations that control the market economy. 
B)  the indirect means through which the state controls the market economy. 
C)  all the actions of households and firms regarding the uses of factors of production. 
D)  the economic impact of the policy decisions of a country's political leaders. 
E)  the effects of the movement of money among financial actors. 
A)  the large corporations that control the market economy. 
B)  the indirect means through which the state controls the market economy. 
C)  all the actions of households and firms regarding the uses of factors of production. 
D)  the economic impact of the policy decisions of a country's political leaders. 
E)  the effects of the movement of money among financial actors.

Identify and explain the distinguishing features of socialism, communism, and capitalism. Are they best understood as points on a single continuum?

Which approach is most committed to using the political economy to achieve economic and social equality?

The gross domestic product is

Which of the following is NOT a characteristic of a mixed economy?

In a market economy, the factors of production are controlled primarily by

Which of the following is committed to a significant reduction in economic inequalities, but not to total economic equality?

Adam Smith's concept of the "invisible hand" describes

Politics and Knowledge

Political Theory and Political Beliefs

Political Actions

Influences on Beliefs and Actions

Political Systems, States, and Nations

Political Institutions I: Institutional Structures

Political Institutions II: Institutional Arrangements

Public Policy, Power, and Decision

Change and Political Development

Politics Across Borders

Political Violence

The Developed Countries of the Global North

The Developing Countries of the Global South

The Transitional Developed Countries

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Exam 8: Political Economy

Identify and explain the distinguishing features of socialism, communism, and capitalism. Are they best understood as points on a single continuum?

Which approach is most committed to using the political economy to achieve economic and social equality?

The gross domestic product is

Which of the following is NOT a characteristic of a mixed economy?

In a market economy, the factors of production are controlled primarily by

Which of the following is committed to a significant reduction in economic inequalities, but not to total economic equality?

Adam Smith's concept of the "invisible hand" describes

Politics and Knowledge

Political Theory and Political Beliefs

Political Actions

Influences on Beliefs and Actions

Political Systems, States, and Nations

Political Institutions I: Institutional Structures

Political Institutions II: Institutional Arrangements

Public Policy, Power, and Decision

Change and Political Development

Politics Across Borders

Political Violence

The Developed Countries of the Global North

The Developing Countries of the Global South

The Transitional Developed Countries

Filters