Question 1

The capitalism that we know today in the United States is a "pure" form of laissez-faire capitalism.

Accepted Answer

A) True 
 B)False  False

Question 2

The Fugger dynasty was an example of

Accepted Answer

A) industrial capitalism. 
B) mercantile capitalism. 
C) financial capitalism. 
D) globalized capitalism. 
A) industrial capitalism. 
B) mercantile capitalism. 
C) financial capitalism. 
D) globalized capitalism. B

Question 3

Karl Marx believed that

Accepted Answer

A) under capitalism workers are alienated in several ways. 
B) capitalism no longer exploits workers. 
C) industrialization does away with alienation. 
D) workers are alienated from their products,but not from themselves or other people. 
A) under capitalism workers are alienated in several ways. 
B) capitalism no longer exploits workers. 
C) industrialization does away with alienation. 
D) workers are alienated from their products,but not from themselves or other people. A

Question 4

If it's true that individuals have a natural right to own property,then there can be no limits on this right.

Accepted Answer

A) True 
 B)False

Question 5

Implicit in capitalism is the view that human beings aim to maximize their economic self-interest.

Accepted Answer

A) True 
 B)False

Question 6

Capital is that money that is invested for the purpose of making more money.

Accepted Answer

A) True 
 B)False

Question 7

According to Marx,the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie.

Accepted Answer

A) True 
 B)False

Question 8

As a classical moral justification of capitalism,the natural right to property is a utilitarian justification.

Accepted Answer

A) True 
 B)False

Question 9

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

Accepted Answer

A) government subsidies and protective tariffs. 
B) monopolies control almost all areas of economic life. 
C) so many small companies go bankrupt. 
D) the outsourcing of jobs. 
A) government subsidies and protective tariffs. 
B) monopolies control almost all areas of economic life. 
C) so many small companies go bankrupt. 
D) the outsourcing of jobs.

Question 10

What are the five different historical forms of capitalism?

Accepted Answer

The five different historical forms of c

Question 11

A basic premise of Adam Smith's is

Accepted Answer

A) human beings try to avoid acquisitive behavior. 
B) when people are left to pursue their own economic interests,disaster looms. 
C) the division of labor,though good for the firm,reduces overall efficiency. 
D) we can secure what we need from others only by offering them something they need from us. 
A) human beings try to avoid acquisitive behavior. 
B) when people are left to pursue their own economic interests,disaster looms. 
C) the division of labor,though good for the firm,reduces overall efficiency. 
D) we can secure what we need from others only by offering them something they need from us.

Question 12

Government programs often subsidize American businesses and protect them from competition.

Accepted Answer

A) True 
 B)False

Question 13

Capitalism is possible without private property.

Accepted Answer

A) True 
 B)False

Question 14

Evidence for the idea that American manufacturing is declining is

Accepted Answer

A) the fact that government now employs more people than manufacturing. 
B) a reluctance to outsource. 
C) fewer "hollow" corporations. 
D) a shrinking trade deficit. 
A) the fact that government now employs more people than manufacturing. 
B) a reluctance to outsource. 
C) fewer "hollow" corporations. 
D) a shrinking trade deficit.

Question 15

Which of the following is an accurate statement?

Accepted Answer

A) Adam Smith defends capitalism by appealing to the idea of a natural,moral right to property. 
B) Adam Smith denies that human beings are,by nature,acquisitive creatures. 
C) A common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right. 
D) Utilitarians oppose capitalism in principle. 
A) Adam Smith defends capitalism by appealing to the idea of a natural,moral right to property. 
B) Adam Smith denies that human beings are,by nature,acquisitive creatures. 
C) A common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right. 
D) Utilitarians oppose capitalism in principle.

Question 16

Rather than strong work ethic,a more commonly seen role is:

Accepted Answer

A) Me - first 
B) Happy days are here to stay 
C) I like it easy 
D) Let the boss sweat it 
A) Me - first 
B) Happy days are here to stay 
C) I like it easy 
D) Let the boss sweat it

Question 17

Why do some critics of competition believe that it isn't all that it's cracked up to be?

Accepted Answer

Critics of competition argue that it isn

Question 18

Property ownership involves a generally complex bundle of rights and rules governing how,under what circumstances,and in what ways both the owner and others can use,possess,dispose of,and have access to the thing in question.

Accepted Answer

A) True 
 B)False

Question 19

An exclusive focus on short-term performance

Accepted Answer

A) is the best guarantee of a company's long-term performance. 
B) has helped to create a high-pressure environment conducive to fraud. 
C) encourages long-term research and development. 
D) hurts stock prices. 
A) is the best guarantee of a company's long-term performance. 
B) has helped to create a high-pressure environment conducive to fraud. 
C) encourages long-term research and development. 
D) hurts stock prices.

Question 20

What reason is there for thinking that American manufacturing is declining?

Accepted Answer

There are several reasons that have led

The capitalism that we know today in the United States is a "pure" form of laissez-faire capitalism.

The Fugger dynasty was an example of

Karl Marx believed that

If it's true that individuals have a natural right to own property,then there can be no limits on this right.

Implicit in capitalism is the view that human beings aim to maximize their economic self-interest.

Capital is that money that is invested for the purpose of making more money.

According to Marx,the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie.

As a classical moral justification of capitalism,the natural right to property is a utilitarian justification.

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

What are the five different historical forms of capitalism?

A basic premise of Adam Smith's is

Government programs often subsidize American businesses and protect them from competition.

Capitalism is possible without private property.

Evidence for the idea that American manufacturing is declining is

Which of the following is an accurate statement?

Rather than strong work ethic,a more commonly seen role is:

Why do some critics of competition believe that it isn't all that it's cracked up to be?

Property ownership involves a generally complex bundle of rights and rules governing how,under what circumstances,and in what ways both the owner and others can use,possess,dispose of,and have access to the thing in question.

An exclusive focus on short-term performance

What reason is there for thinking that American manufacturing is declining?

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

Corporations

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters

Exam 4: The Nature of Capitalism

The capitalism that we know today in the United States is a "pure" form of laissez-faire capitalism.

The Fugger dynasty was an example of

Karl Marx believed that

If it's true that individuals have a natural right to own property,then there can be no limits on this right.

Implicit in capitalism is the view that human beings aim to maximize their economic self-interest.

Capital is that money that is invested for the purpose of making more money.

According to Marx,the best economic system would be one where the means of production and distribution are in the hands of the bourgeoisie.

As a classical moral justification of capitalism,the natural right to property is a utilitarian justification.

One reason for believing that in practice capitalism fails to live up to its own ideal of competition is

What are the five different historical forms of capitalism?

A basic premise of Adam Smith's is

Government programs often subsidize American businesses and protect them from competition.

Capitalism is possible without private property.

Evidence for the idea that American manufacturing is declining is

Which of the following is an accurate statement?

Rather than strong work ethic,a more commonly seen role is:

Why do some critics of competition believe that it isn't all that it's cracked up to be?

Property ownership involves a generally complex bundle of rights and rules governing how,under what circumstances,and in what ways both the owner and others can use,possess,dispose of,and have access to the thing in question.

An exclusive focus on short-term performance

What reason is there for thinking that American manufacturing is declining?

The Nature of Morality

Normative Theories of Ethics

Justice and Economic Distribution

Corporations

Consumers

The Environment

The Workplace 1: Basic Issues

The Workplace 2: Todays Challenges

Moral Choices Facing Employees

Job Discrimination

Filters