Question 1

Which category of the U.S.population is showing the greatest labor-force increase in terms of percentage?

Accepted Answer

A)  white men
B)  Hispanic women
C)  white women
D)  African American women

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

The self-employed are more likely to have blue-collar jobs than white-collar jobs.

Accepted Answer

A) True 
 B)False

Question 4

Early factories in New England, where the Industrial Revolution first developed in the United States

Accepted Answer

A)  employed women for half the wages paid to men.
B)  manufactured textiles.
C)  discouraged any worker organizations.
D)  All of these are correct.

Question 5

Name the three sectors of the economy.Give an example of production in each sector.

Accepted Answer

The three sectors of the economy are:

1...

Question 6

Although there are many privately-owned companies in the United States, most of the U.S.economy is owned and operated by the government.

Accepted Answer

A) True 
 B)False

Question 7

Taken together, local, state, and federal governments are the U.S.'s largest single employer.

Accepted Answer

A) True 
 B)False

Question 8

Which category of the U.S.population is showing the greatest labor-force increase in percentage terms?

Accepted Answer

A)  white men
B)  Hispanic women
C)  white women
D)  African American women

Question 9

How do capitalism and socialism differ in overall productivity? What about economic inequality?

Accepted Answer

Capitalism and socialism differ in overa...

Question 10

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

Accepted Answer

A)  6.8 percent
B)  26.8 percent
C)  46.8 percent
D)  66.8 percent

Question 11

What are the three defining traits of socialism?

Accepted Answer

Socialism is a political, social, and ec...

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

The Information Revolution has concentrated workers in offices, drawing people from a wide region into dense, central cities.

Accepted Answer

A) True 
 B)False

Question 14

Less than 2 percent of today's U.S.labor force works in agriculture.

Accepted Answer

A) True 
 B)False

Question 15

The concept "state capitalism" refers to a system in which

Accepted Answer

A)  the government owns and operates most economic enterprises.
B)  privately-owned companies cooperate closely with the government.
C)  the government owns but does not operate most economic enterprises.
D)  large businesses control the government.

Question 16

Which of the following new sources of energy launched the Industrial Revolution?

Accepted Answer

A)  the gasoline engine
B)  the steam engine
C)  wind power
D)  electricity

Question 17

Concerning the issue of personal freedom, capitalist systems emphasize people's _____, while socialist systems emphasize people's _____.

Accepted Answer

A)  collective needs; personal needs
B)  freedom from basic want; freedom to pursue their self-interest
C)  freedom to pursue their self-interest; freedom from basic want
D)  social needs; material needs

Question 18

What arguments are made in favor of a free-market economy? What are the arguments made by those who favor a large regulatory role for government? Consider issues such as economic productivity, economic inequality, and the extent of corporate welfare.Also, how do the recent corporate scandals, beginning with the collapse of the Enron energy trading company, play in to this debate?

Accepted Answer

Arguments in favor of a free-market econ...

Question 19

An example of a European country with a mostly private economy and extensive social welfare programs is

Accepted Answer

A)  Germany.
B)  Sweden.
C)  Spain.
D)  All of these are correct.

Question 20

Define the concepts of "monopoly" and "oligopoly." Why are these economic patterns controversial?

Accepted Answer

Monopoly refers to a market structure in...

Exam 16: The Economy and Work

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Answered by ExamLex AI
Arguments in favor of a free-market econ...
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How do capitalism and socialism differ in overall productivity? What about economic inequality?

Correct Answer
Answered by ExamLex AI
Capitalism and socialism differ in overa...
View Answer

Concerning the issue of personal freedom, capitalist systems emphasize people's _, while socialist systems emphasize people's _.

Correct Answer
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The self-employed are more likely to have blue-collar jobs than white-collar jobs.

Correct Answer
verified

Which category of the U.S.population is showing the greatest labor-force increase in terms of percentage?

Correct Answer
verified

Taken together, local, state, and federal governments are the U.S.'s largest single employer.

Correct Answer
verified

What are the three defining traits of socialism?

Correct Answer
Answered by ExamLex AI
Socialism is a political, social, and ec...
View Answer

An example of a European country with a mostly private economy and extensive social welfare programs is

Correct Answer
verified

Early factories in New England, where the Industrial Revolution first developed in the United States

Correct Answer
verified

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

Correct Answer
verified

The concept "state capitalism" refers to a system in which

Correct Answer
verified

Less than 2 percent of today's U.S.labor force works in agriculture.

Correct Answer
verified

Although there are many privately-owned companies in the United States, most of the U.S.economy is owned and operated by the government.

Correct Answer
verified

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

Correct Answer
verified

Which category of the U.S.population is showing the greatest labor-force increase in percentage terms?

Correct Answer
verified

The Information Revolution has concentrated workers in offices, drawing people from a wide region into dense, central cities.

Correct Answer
verified

Define the concepts of "monopoly" and "oligopoly." Why are these economic patterns controversial?

Correct Answer
Answered by ExamLex AI
Monopoly refers to a market structure in...
View Answer

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

Correct Answer
verified

Name the three sectors of the economy.Give an example of production in each sector.

Correct Answer
Answered by ExamLex AI
The three sectors of the economy are:

1...
View Answer

Which of the following new sources of energy launched the Industrial Revolution?

Correct Answer
verified

Exam 16: The Economy and Work

Correct AnswerAnswered by ExamLex AIArguments in favor of a free-market econ...View AnswerShow Answer

How do capitalism and socialism differ in overall productivity? What about economic inequality?

Correct AnswerAnswered by ExamLex AICapitalism and socialism differ in overa...View AnswerShow Answer

Concerning the issue of personal freedom, capitalist systems emphasize people's _____, while socialist systems emphasize people's _____.

Correct AnswerverifiedShow Answer

The self-employed are more likely to have blue-collar jobs than white-collar jobs.

Correct AnswerverifiedShow Answer

Which category of the U.S.population is showing the greatest labor-force increase in terms of percentage?

Correct AnswerverifiedShow Answer

Taken together, local, state, and federal governments are the U.S.'s largest single employer.

Correct AnswerverifiedShow Answer

What are the three defining traits of socialism?

Correct AnswerAnswered by ExamLex AISocialism is a political, social, and ec...View AnswerShow Answer

An example of a European country with a mostly private economy and extensive social welfare programs is

Correct AnswerverifiedShow Answer

Early factories in New England, where the Industrial Revolution first developed in the United States

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The concept "state capitalism" refers to a system in which

Correct AnswerverifiedShow Answer

Less than 2 percent of today's U.S.labor force works in agriculture.

Correct AnswerverifiedShow Answer

Although there are many privately-owned companies in the United States, most of the U.S.economy is owned and operated by the government.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which category of the U.S.population is showing the greatest labor-force increase in percentage terms?

Correct AnswerverifiedShow Answer

The Information Revolution has concentrated workers in offices, drawing people from a wide region into dense, central cities.

Correct AnswerverifiedShow Answer

Define the concepts of "monopoly" and "oligopoly." Why are these economic patterns controversial?

Correct AnswerAnswered by ExamLex AIMonopoly refers to a market structure in...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Name the three sectors of the economy.Give an example of production in each sector.

Correct AnswerAnswered by ExamLex AIThe three sectors of the economy are:1...View AnswerShow Answer

Which of the following new sources of energy launched the Industrial Revolution?

Correct AnswerverifiedShow Answer

Correct Answer
Answered by ExamLex AI
Arguments in favor of a free-market econ...
View Answer

Correct Answer
Answered by ExamLex AI
Capitalism and socialism differ in overa...
View Answer

Concerning the issue of personal freedom, capitalist systems emphasize people's _, while socialist systems emphasize people's _.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Socialism is a political, social, and ec...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Monopoly refers to a market structure in...
View Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The three sectors of the economy are:

1...
View Answer

Correct Answer
verified