Question 1

Which of the following countries best exemplifies a system of state capitalism?

Accepted Answer

A)  the United States 
B)  Great Britain 
C)  Australia 
D)  Japan 
A)  the United States 
B)  Great Britain 
C)  Australia 
D)  Japan

Question 2

How has the nature of work in Canada changed over the last 100 years? Answer this question referring to the three sectors of the economy. Include in your answer the changing share of self-employed people as well as the changing importance of labour unions.

Accepted Answer

The nature of work in Canada has undergo

Question 3

The development of agriculture was set in motion by

Accepted Answer

A)  changes in the church. 
B)  hitching animals to the plough. 
C)  the discovery of writing. 
D)  the discovery of oil. 
A)  changes in the church. 
B)  hitching animals to the plough. 
C)  the discovery of writing. 
D)  the discovery of oil.

Question 4

The global economy pays little regard to national borders.

Accepted Answer

A) True 
 B)False

Question 5

Taken together, provincial/territorial, municipal, and federal governments employ about 7% of Canada's labour force in public administration.

Accepted Answer

A) True 
 B)False

Question 6

Compared to agricultural work, industrial jobs involve less specialization.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following groups had the lowest level of labour force participation in Canada in 2006?

Accepted Answer

A)  English 
B)  Aboriginal 
C)  Chinese 
D)  French 
A)  English 
B)  Aboriginal 
C)  Chinese 
D)  French

Question 8

A conglomerate is

Accepted Answer

A)  a giant corporation composed of many smaller corporations. 
B)  a corporation in the manufacturing sector. 
C)  a corporation engaged in both legal and illegal activity. 
D)  any company that completely dominates a market. 
A)  a giant corporation composed of many smaller corporations. 
B)  a corporation in the manufacturing sector. 
C)  a corporation engaged in both legal and illegal activity. 
D)  any company that completely dominates a market.

Question 9

The concept "global economy" refers to

Accepted Answer

A)  expanding economic activity that moves across national borders. 
B)  the fact that only a few countries now contribute to the global economy. 
C)  the fact that economic output is under the control of global political leadership. 
D)  the way colonial powers shaped the economies of subordinate populations. 
A)  expanding economic activity that moves across national borders. 
B)  the fact that only a few countries now contribute to the global economy. 
C)  the fact that economic output is under the control of global political leadership. 
D)  the way colonial powers shaped the economies of subordinate populations.

Question 10

About what percentage of today's Canadian workers are self-employed?

Accepted Answer

A)  11.7 percent 
B)  27.3 percent 
C)  47.6 percent 
D)  67.5 percent 
A)  11.7 percent 
B)  27.3 percent 
C)  47.6 percent 
D)  67.5 percent

Question 11

Why is the economy important?

Accepted Answer

The economy is important for several rea

Question 12

As a social institution, the economy

Accepted Answer

A)  is the system by which goods and services are taxed. 
B)  discourages the consumption of goods and services. 
C)  operates in a relatively predictable manner. 
D)  operates in an unpredictable and chaotic manner. 
A)  is the system by which goods and services are taxed. 
B)  discourages the consumption of goods and services. 
C)  operates in a relatively predictable manner. 
D)  operates in an unpredictable and chaotic manner.

Question 13

In a socialist economic system, "justice" amounts to

Accepted Answer

A)  trying to meet the basic needs of all in an equal manner. 
B)  doing whatever helps boost company earnings. 
C)  freedom of the marketplace. 
D)  exploitation of wage-labourers to promote profit. 
A)  trying to meet the basic needs of all in an equal manner. 
B)  doing whatever helps boost company earnings. 
C)  freedom of the marketplace. 
D)  exploitation of wage-labourers to promote profit.

Question 14

State the defining characteristics of two economic models: capitalism and socialism. How do these models compare in terms of (a) overall productivity; (b) level of economic inequality; and (c) extent of political freedom? How is welfare capitalism an effort to combine benefits of both systems?

Accepted Answer

Capitalism is an economic model characte

Question 15

A corporation is an organization with a legal existence apart from that of its members.

Accepted Answer

A) True 
 B)False

Question 16

An example of a country with a mostly private economy and extensive social welfare programs is

Accepted Answer

A)  the United States. 
B)  Sweden. 
C)  Japan. 
D)  Spain. 
A)  the United States. 
B)  Sweden. 
C)  Japan. 
D)  Spain.

Question 17

How does living within a socialist system shape everyday life?

Accepted Answer

Living within a socialist system can sha

Question 18

Canada is a capitalist society with socialist leanings.

Accepted Answer

A) True 
 B)False

Question 19

What are the three defining traits of capitalism?

Accepted Answer

Capitalism is an economic system charact

Question 20

Contrasted to socialist economic systems, capitalist economic systems are typically

Accepted Answer

A)  equally productive. 
B)  more productive. 
C)  less productive. 
D)  not concerned with productivity. 
A)  equally productive. 
B)  more productive. 
C)  less productive. 
D)  not concerned with productivity.

Exam 16: The Economy and Work

Which of the following countries best exemplifies a system of state capitalism?

How has the nature of work in Canada changed over the last 100 years? Answer this question referring to the three sectors of the economy. Include in your answer the changing share of self-employed people as well as the changing importance of labour unions.

The development of agriculture was set in motion by

The global economy pays little regard to national borders.

Taken together, provincial/territorial, municipal, and federal governments employ about 7% of Canada's labour force in public administration.

Compared to agricultural work, industrial jobs involve less specialization.

Which of the following groups had the lowest level of labour force participation in Canada in 2006?

A conglomerate is

The concept "global economy" refers to

About what percentage of today's Canadian workers are self-employed?

Why is the economy important?

As a social institution, the economy

In a socialist economic system, "justice" amounts to

State the defining characteristics of two economic models: capitalism and socialism. How do these models compare in terms of (a) overall productivity; (b) level of economic inequality; and (c) extent of political freedom? How is welfare capitalism an effort to combine benefits of both systems?

A corporation is an organization with a legal existence apart from that of its members.

An example of a country with a mostly private economy and extensive social welfare programs is

How does living within a socialist system shape everyday life?

Canada is a capitalist society with socialist leanings.

What are the three defining traits of capitalism?

Contrasted to socialist economic systems, capitalist economic systems are typically

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