Exam 11: The Economy

One of the functions of a hierarchical system in the workplace is to encourage obedience to rules by

_____ refers to an economic system in which the means of production are owned by the people for their collective benefit.

Which term refers to a belief in equality of opportunity for the self-fulfillment of all, equality rather than hierarchy in decision making, and equality in sharing the benefits of society?

With the advent of the _____, more and more families left agrarian life, moved to cities, and worked in factories.

Research in 2009 showed that union members are 59% more likely to have _____ than their nonunion counterparts.

In 2013, a spotlight on sweatshops occurred due to the collapse of a garment factory in _____ that killed more than 1,100 young women and child laborers.

The chapter points out that work can have its dark side. The distribution of work and how it is rewarded are major sources of _____ in society.

More than 130 years ago, Karl Marx hypothesized that free enterprise would result in some firms becoming bigger and bigger as they eliminate their opposition or absorb smaller competing firms, resulting in the existence of _____ in each of the various sectors of the economy.

One condition of true capitalism is a government policy of _____ that allows the marketplace to operate without intervention.

Which term refers to a system of government based on controlling the people of a country in a very strict way with complete power that cannot be opposed?

What forces combined in 2007 to bring about the worst economic downturn since the Great Depression of the 1930s?

By early 2009, around 16.5 million children received _____, up 6.5% from the previous year. .

Pregnant _____ have disproportionate numbers of miscarriages or babies with birth defects, apparently from exposure to nonionizing radiation.

The major discrepency between capitalism in its ideal form and capitalism as it is practiced in the United States is

Which term refers to a substandard work environment where workers are paid less than the minimum wage, workers are not paid overtime premiums, and other labor laws are violated?

Bob is on the board of Megagiant Corp. and Karen is on the board of Supersize Inc. Both Bob and Karen serve on the board of Mega-Superbank. This type of interlocking directorate is called a(n)

On August 26, 2014 (Women's Equality Day), the Teamsters Local 237 union in New York City won a historic gender-equity settlement for thousands of female _____, who earned about $7,000 less per year than their male counterparts.

Capitalists argue that the profit motive, private ownership, and competition will achieve _____, although this is not currently the case in the United States, where many workers live below the poverty line.

According to research by Marquardt and Shinkle, stock market value declined by $7.3 _____ in 2008 alone.

Although the Great Recession technically ended in 2010, there are long-term consequences still being felt; for instance, governments at the local, state, and federal level