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) C) and D)
F) All of the above

Question 2

Agricultural production is part of the primary sector of the economy.

Accepted Answer

A) True 
 B)False

Question 3

Conglomerates are giant corporations composed of many smaller corporations.

Accepted Answer

A) True 
 B)False

Question 4

Over the course of the last century,the number of people involved in agricultural work

Accepted Answer

A)  has remained about the same.
B)  has declined steadily.
C)  has increased dramatically.
D)  has stayed the same,although a larger share of workers are immigrants.E) A) and B)
F) A) and C)

Question 5

Large corporations dominate many markets in the global economy.

Accepted Answer

A) True 
 B)False

Question 6

Combining a market-based economy with an extensive social welfare program yields what is called "welfare capitalism."

Accepted Answer

A) True 
 B)False

Question 7

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 percentE) A) and C)
F) C) and D)

Question 8

Adam Smith's idea was that,in a capitalist system,government tells businesses what to produce and consumers what to buy.

Accepted Answer

A) True 
 B)False

Question 9

By the early 1960s,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) A) and C)
F) All of the above

Question 10

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Accepted Answer

A) True 
 B)False

Question 11

In a socialist economic system,"justice" amounts to

Accepted Answer

A)  trying to meet the basic needs of all in a equal manner.
B)  doing whatever helps boost company earnings.
C)  freedom of the marketplace.
D)  All of these responses are correct.E) C) and D)
F) None of the above

Question 12

The development of agriculture was set in motion by

Accepted Answer

A)  changes in the church.
B)  hitching animals to the plow.
C)  the discovery of writing.
D)  the discovery of oil.E) B) and C)
F) None of the above

Question 13

Globalization of the economy means that

Accepted Answer

A)  world regions specialize in one sector of economic activity.
B)  more and more products pass through several nations.
C)  a small number of businesses represent a huge share of global economic output.
D)  All of these responses are correct.E) A) and B)
F) None of the above

Question 14

The concept of "global economy" refers to

Accepted Answer

A)  economic activity that moves across national borders.
B)  the fact that only a few countries now contribute to the global economy.
C)  the fact that economic output is under the control of global political leadership.
D)  All of these responses are correct.E) B) and D)
F) A) and B)

Question 15

Which of the following countries best exemplifies a system of state capitalism?

Accepted Answer

A)  the United States
B)  Great Britain
C)  Australia
D)  JapanE) C) and D)
F) All of the above

Exam 16: The Economy and Work

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

Correct Answer
verified

Which of the following countries best exemplifies a system of state capitalism?

Correct Answer
verified

The concept of "global economy" refers to

Correct Answer
verified

In a socialist economic system,"justice" amounts to

Correct Answer
verified

By the early 1960s,most of the people in the U.S.labor force had which type of job?

Correct Answer
verified

Agricultural production is part of the primary sector of the economy.

Correct Answer
verified

Over the course of the last century,the number of people involved in agricultural work

Correct Answer
verified

Globalization of the economy means that

Correct Answer
verified

Conglomerates are giant corporations composed of many smaller corporations.

Correct Answer
verified

The development of agriculture was set in motion by

Correct Answer
verified

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Correct Answer
verified

Adam Smith's idea was that,in a capitalist system,government tells businesses what to produce and consumers what to buy.

Correct Answer
verified

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

Correct Answer
verified

Combining a market-based economy with an extensive social welfare program yields what is called "welfare capitalism."

Correct Answer
verified

Large corporations dominate many markets in the global economy.

Correct Answer
verified

Exam 16: The Economy and Work

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

Correct AnswerverifiedShow Answer

Which of the following countries best exemplifies a system of state capitalism?

Correct AnswerverifiedShow Answer

The concept of "global economy" refers to

Correct AnswerverifiedShow Answer

In a socialist economic system,"justice" amounts to

Correct AnswerverifiedShow Answer

By the early 1960s,most of the people in the U.S.labor force had which type of job?

Correct AnswerverifiedShow Answer

Agricultural production is part of the primary sector of the economy.

Correct AnswerverifiedShow Answer

Over the course of the last century,the number of people involved in agricultural work

Correct AnswerverifiedShow Answer

Globalization of the economy means that

Correct AnswerverifiedShow Answer

Conglomerates are giant corporations composed of many smaller corporations.

Correct AnswerverifiedShow Answer

The development of agriculture was set in motion by

Correct AnswerverifiedShow Answer

Most people with jobs in the primary labor market would probably rather have jobs in the secondary labor market.

Correct AnswerverifiedShow Answer

Adam Smith's idea was that,in a capitalist system,government tells businesses what to produce and consumers what to buy.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Combining a market-based economy with an extensive social welfare program yields what is called "welfare capitalism."

Correct AnswerverifiedShow Answer

Large corporations dominate many markets in the global economy.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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