Exam 13: The Economy

Public opinion has turned against unions because________.

Identify which of the following are features Michael Parenti uses to describe the fundamental logic of capitalism.

Marginal firms where product demand is unstable, jobs are characterized by poor working conditions, low wages, few opportunities for advancement, and little job security characterize the ________ of the labor market.

Critics argue that ________ promotes inequality and a host of social problems because the object is profit, not enhancing the human condition.

In a purely capitalist society________.

A major consequence of the corporate scandals in 2008 was __________.

Adam Smith argues for the need of government regulation of the economy.

The hierarchical arrangement of the workplace controls workers________.

S. sweatshops occur most frequently in the meat-packing industry.

Identify which of the following is not evidence of the difficulties associated with industrialization.

In 2010, the lowest point of the unemployment rate was 6 percent.

For true capitalism to work, there must be a fourth condition, ________, which is a government policy that allows the marketplace to operate unhindered with a minimum of government interference.

A mechanism in the U.S. economy that perpetuates inequalities in the job market by race, class, and gender is

The semiskilled job sector has increased its size due to the shift of U.S. companies to overseas locations.

Identify which of the following is true of the U.S. economy.

The reserve army of the unemployed is disproportionately composed of students and the disabled.

What are the three conditions necessary for the presence of pure capitalism?

Creating new and more creative types of jobs is a goal of Taylorization.

What are the five principles of socialism?

The undemocratic nature of U.S. society is illustrated by________.