Exam 14: The Economy

For the first time, it was no longer necessary for everyone to work at producing food in

A stockholder's revolt is actually a case of the _____ rebelling at the control of the _____.

A system of producing and distributing goods and services is known as a(n)

Currency is

A _____ is the means by which people place a value on goods and services in order to make an exchange; for example, currency, gold, and silver.

Capitalism responds to

Sarah stopped at the supermarket to quickly pick up some milk, bread, cat litter, and a tomato. When she saw the total come up on the screen, she swore that it was a dollar higher than it should be. But no, the prices were all correct on her receipt. It was just that they had all gone up. So had the cost of clothing, cars, and most everything else. This is called

To _____ is to directly exchange one item for another.

In laissez-faire capitalism,

Describe the "quiet revolution."

The gap between rich and poor Americans is

A corporation is

Researchers have found that when it comes to working, women are more likely to _____, while men are more likely to _____.

The United States follows _____, where private citizens own the means of production and pursue profits, but within a system of laws to protect the welfare of the population.

Governments ____ the development of e-cash.

The main criticism leveled against capitalism is that it

Describe how white-collar work, blue-collar work, and farming have changed proportions in the U.S. economy from 1900 to the present.

Fiat money is

_____ solidarity is the unity that people feel as a result of performing the same or similar tasks.

The poorest fifth of the U.S. population receives _____ of the nation's income.