Exam 13: The Economy

Approximately ________ workers die each year from on-the-job injuries.

A characteristic of a megamerger is that it decreases the centralization of capital, decreases corporate debt, and lowers prices.

Identify which of the following is not associated with an increasing concentration of private wealth.

A sweatshop is a substandard work environment where workers are paid less than the minimum wage, are not paid overtime premiums, and generally work in conditions that are violations of labor laws.

_____ refers to the separation of human beings from each other, from themselves, and from the products they create.

________ refers to increasing worker efficiency by breaking down work into very specialized tasks, standardization of tools and procedures, and speeding up repetitive work.

Contrary to classic economic theory, huge corporations________.

Sweatshops exist in poor nations, but not in wealthy industrialized nations, like the United States.

Discuss the problems with the official unemployment statistics supplied by the Bureau of Labor and the implications those problems might have on policy-making.

The heart of capitalism is opposed by the socialism principle of planning.

________ is a feature of socialism, referring to the idea that social relations should be characterized by cooperation and a sense of collective belonging rather than by conflict and competition.

The government policy that allows the marketplace to operate unhindered is called________.

Michael Parenti describes the fundamental logic of capitalism and capitalists as dedicated to protecting the family or traditional life.

There are no discrepancies between an ideal free enterprise system and the U.S. economy.

New technology, such as lie detector tests to assess worker loyalty, psychological tests to screen applicants, and drug tests to supervise workers, is part of the new workplace.

The capitalist philosophy dating back to Adam Smith argues that

Industrialized societies will organize their economic activities in one of two modes, either capitalism or socialism.

Define interlocking directorates and contrast indirect with direct interlocking.

The lack of central planning points to the undemocratic nature of U.S. society.

The socialist principle of ________ means that the representatives of the state must be answerable and responsive to the wishes of the public they serve.