Question 1

Which of the following would be included in the operation of the underground economy?

Accepted Answer

A)   a teacher who is on disability leave for a long time
B)   an executive who illegally "borrows" funds from the company
C)   a taxi driver who fails to report most of her income
D)   food servers who are paid less than the minimum wageE) B) and C)
F) A) and C)

Question 2

Capitalism is more productive than socialism, and capitalism also creates greater economic inequality.

Accepted Answer

A) True 
 B)False

Question 3

The United States is a mostly capitalist nation because:

Accepted Answer

A)   the vast majority of productive businesses are privately owned.
B)   we have a system of free elections.
C)   of our high living standards.
D)   of the extensive government control of the economy.E) A) and B)
F) A) and C)

Question 4

By about 1950, most of the people in the U.S. labor force had which type of job?

Accepted Answer

A)   white-collar
B)   blue-collar
C)   pink-collar
D)   farmingE) None of the above
F) A) and B)

Question 5

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 womenE) A) and B)
F) B) and C)

Question 6

The economy did not emerge as a distinct social institution until the Industrial Revolution.

Accepted Answer

A) True 
 B)False

Question 7

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 needsE) B) and C)
F) A) and D)

Question 8

As societies industrialize, a smaller share of the population works in which of the following locations?

Accepted Answer

A)   farms
B)   factories
C)   assembly lines
D)   All of the above are correct.E) B) and C)
F) C) and D)

Question 9

The Industrial Revolution accelerated with the development of which of the following new sources of energy?

Accepted Answer

A)   the gasoline engine
B)   the steam engine
C)   wind power
D)   electricityE) None of the above
F) All of the above

Question 10

Which social institution is widely considered to have the greatest effect on society as a whole?

Accepted Answer

A)   the family
B)   the economy
C)   the political system
D)   religionE) A) and D)
F) A) and C)

Question 11

Which of the following statements about the Information Revolution is NOT correct?

Accepted Answer

A)   There was a shift from making tangible products to generating ideas.
B)   There was a shift from mechanical skills to literacy skills.
C)   There was a shift from farming to turning raw materials into products.
D)   There was a shift from working in factories to working almost anywhere.E) C) and D)
F) A) and D)

Question 12

Conglomerates are giant corporations composed of many smaller corporations.

Accepted Answer

A) True 
 B)False

Question 13

The postindustrial economy is defined by:

Accepted Answer

A)   the spread of factories.
B)   mass production of goods and services.
C)   manufacturing of raw materials.
D)   service work and computer technology.E) A) and D)
F) A) and B)

Question 14

When in the history of human societies did the economy become a social institution distinct from the family and other institutions?

Accepted Answer

The economy became a social institution ...

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.E) All of the above
F) B) and C)

Question 16

The economy organizes the production, distribution, and consumption of goods and services.

Accepted Answer

A) True 
 B)False

Exam 16: The Economy and Work

Which of the following statements about the Information Revolution is NOT correct?

Correct Answer
verified

Capitalism is more productive than socialism, and capitalism also creates greater economic inequality.

Correct Answer
verified

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

Correct Answer
verified

The postindustrial economy is defined by:

Correct Answer
verified

Conglomerates are giant corporations composed of many smaller corporations.

Correct Answer
verified

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

Correct Answer
verified

When in the history of human societies did the economy become a social institution distinct from the family and other institutions?

Correct Answer
Answered by ExamLex AI
The economy became a social institution ...
View Answer

As societies industrialize, a smaller share of the population works in which of the following locations?

Correct Answer
verified

The United States is a mostly capitalist nation because:

Correct Answer
verified

The economy did not emerge as a distinct social institution until the Industrial Revolution.

Correct Answer
verified

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

Correct Answer
verified

Which of the following would be included in the operation of the underground economy?

Correct Answer
verified

The economy organizes the production, distribution, and consumption of goods and services.

Correct Answer
verified

By about 1950, most of the people in the U.S. labor force had which type of job?

Correct Answer
verified

Which social institution is widely considered to have the greatest effect on society as a whole?

Correct Answer
verified

The Industrial Revolution accelerated with the development of which of the following new sources of energy?

Correct Answer
verified

Exam 16: The Economy and Work

Which of the following statements about the Information Revolution is NOT correct?

Correct AnswerverifiedShow Answer

Capitalism is more productive than socialism, and capitalism also creates greater economic inequality.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The postindustrial economy is defined by:

Correct AnswerverifiedShow Answer

Conglomerates are giant corporations composed of many smaller corporations.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When in the history of human societies did the economy become a social institution distinct from the family and other institutions?

Correct AnswerAnswered by ExamLex AIThe economy became a social institution ...View AnswerShow Answer

As societies industrialize, a smaller share of the population works in which of the following locations?

Correct AnswerverifiedShow Answer

The United States is a mostly capitalist nation because:

Correct AnswerverifiedShow Answer

The economy did not emerge as a distinct social institution until the Industrial Revolution.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following would be included in the operation of the underground economy?

Correct AnswerverifiedShow Answer

The economy organizes the production, distribution, and consumption of goods and services.

Correct AnswerverifiedShow Answer

By about 1950, most of the people in the U.S. labor force had which type of job?

Correct AnswerverifiedShow Answer

Which social institution is widely considered to have the greatest effect on society as a whole?

Correct AnswerverifiedShow Answer

The Industrial Revolution accelerated with the development of which of the following new sources of energy?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The economy became a social institution ...
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