Question 1

In a capitalist economic system, "justice" amounts to:

Accepted Answer

A)  doing what is best for society's poorest members. 
B)  everyone being more or less socially equal. 
C)  freedom of the marketplace where a person can follow self-interest. 
D)  All of the above are correct. 
A)  doing what is best for society's poorest members. 
B)  everyone being more or less socially equal. 
C)  freedom of the marketplace where a person can follow self-interest. 
D)  All of the above are correct.

Question 2

The invention of the corporation is generally taken as the point at which a postindustrial society emerged.

Accepted Answer

A) True 
 B)False

Question 3

Describe trends in the U.S. labor force over the course of the last century. What technological changes have accompanied the shift from agricultural work to blue-collar work and then to white-collar service jobs? What changes in other social patterns have accompanied this shift? Consider rural-urban residential patterns, family patterns, and the relationship between work and home.

Accepted Answer

Over the last century, the U.S. labor fo

Question 4

What percentage of today's U.S. workers are self-employed?

Accepted Answer

A)  7.2 percent 
B)  27.3 percent 
C)  47.3 percent 
D)  67.3 percent 
A)  7.2 percent 
B)  27.3 percent 
C)  47.3 percent 
D)  67.3 percent

Question 5

The text describes three technological revolutions that transformed all of social life. Which of the following is NOT one of them?

Accepted Answer

A)  the Agricultural Revolution 
B)  the Industrial Revolution 
C)  the Immigration Revolution 
D)  the Information Revolution 
A)  the Agricultural Revolution 
B)  the Industrial Revolution 
C)  the Immigration Revolution 
D)  the Information Revolution

Question 6

What is the underground economy?

Accepted Answer

The underground economy, also known as t

Question 7

Explain how corporations operate as the core of the U.S. economy. How has the 	globalization of the economy made many corporations much larger? What are 	conglomerates? Look ahead to the world's economy at mid-century: Do you think large 	multinational corporations will dominate the world more than they do now? Is this good 	for the world's people? Why or why not?

Accepted Answer

Corporations operate as the core of the

Question 8

The concept "state capitalism" refers all productive enterprises in a country being owned by the government.

Accepted Answer

A) True 
 B)False

Question 9

In recent years, the lowest unemployment rates in the United States have been among teenagers.

Accepted Answer

A) True 
 B)False

Question 10

Socialist economies create greater economic equality than capitalist economies, but with a lower overall living standard.

Accepted Answer

A) True 
 B)False

Question 11

Computers are having which of the following effects on the workplace?

Accepted Answer

A)  Computers are deskilling labor. 
B)  Computers are limiting workplace interaction. 
C)  Computers enhance employers' control of workers. 
D)  All of the above are correct. 
A)  Computers are deskilling labor. 
B)  Computers are limiting workplace interaction. 
C)  Computers enhance employers' control of workers. 
D)  All of the above are correct.

Question 12

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Accepted Answer

A) True 
 B)False

Question 13

Define the concepts of "monopoly" and "oligopoly."

Accepted Answer

Monopoly and oligopoly are two distinct

Question 14

The use of computers by workers tends to limit workplace interaction.

Accepted Answer

A) True 
 B)False

Question 15

What is a profession? What are four characteristics of professional work?

Accepted Answer

A profession is a vocation or occupation

Question 16

Large corporations dominate the planet's economy.

Accepted Answer

A) True 
 B)False

Question 17

The social thinker whose ideas most supported the operation of a free-market economy was:

Accepted Answer

A)  Thorstein Veblen. 
B)  Adam Smith. 
C)  Karl Marx. 
D)  Max Weber. 
A)  Thorstein Veblen. 
B)  Adam Smith. 
C)  Karl Marx. 
D)  Max Weber.

Question 18

How has the nature of work in the United States changed over the last 150 years? Answer this question referring to the three sectors of the economy. In your answer, include the changing share of self-employed people as well as the changing importance of labor unions.

Accepted Answer

The nature of work in the United States

Question 19

Prostitution and sale of illegal drugs are typically part of the underground economy.

Accepted Answer

A) True 
 B)False

Question 20

The expansion of office work marks the growth of the economy's:

Accepted Answer

A)  primary sector. 
B)  secondary sector. 
C)  tertiary sector. 
D)  None of the above is correct. 
A)  primary sector. 
B)  secondary sector. 
C)  tertiary sector. 
D)  None of the above is correct.

Exam 16: The Economy and Work

In a capitalist economic system, "justice" amounts to:

The invention of the corporation is generally taken as the point at which a postindustrial society emerged.

What percentage of today's U.S. workers are self-employed?

The text describes three technological revolutions that transformed all of social life. Which of the following is NOT one of them?

What is the underground economy?

The concept "state capitalism" refers all productive enterprises in a country being owned by the government.

In recent years, the lowest unemployment rates in the United States have been among teenagers.

Socialist economies create greater economic equality than capitalist economies, but with a lower overall living standard.

Computers are having which of the following effects on the workplace?

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Define the concepts of "monopoly" and "oligopoly."

The use of computers by workers tends to limit workplace interaction.

What is a profession? What are four characteristics of professional work?

Large corporations dominate the planet's economy.

The social thinker whose ideas most supported the operation of a free-market economy was:

How has the nature of work in the United States changed over the last 150 years? Answer this question referring to the three sectors of the economy. In your answer, include the changing share of self-employed people as well as the changing importance of labor unions.

Prostitution and sale of illegal drugs are typically part of the underground economy.

The expansion of office work marks the growth of the economy's:

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