Deck 4: The Politics of Everyday Life: Political Economy

Question 1

C)Wright Mills discussed __________ as an individual's biography and __________ as matters beyond the limited environment of the individual.

A) capitalist; capitalism
B) private troubles; public issues
C) power brokers; power elite
D) citizen; democracy

Answer 1

B

Question 2

__________ refers to the relationship between politics and the economy.

A) political economy
B) private troubles
C) political institutions
D) public issues

Answer 2

A

Question 3

Which perspective sees inequality of economic resources but stress unfairness can be fixed?

A) elite-managerial
B) class
C) pluralist
D) class

Answer 3

C

Question 4

Which perspective views profits made by corporations as generally deserved?

A) elite-managerial
B) class-domination
C) pluralist
D) class

Question 5

_________ perspective sees the economy as dominated by large corporations closely aligned with political bureaucracies.

A) elite-managerial
B) class-domination
C) pluralist
D) class

Question 6

___________ perspective views political power as resting in the hands of capitalists.

A) elite-managerial
B) class-domination
C) pluralist
D) class

Question 7

Class perspective sees:

A) the economy as dominated by large corporations closely aligned with political bureaucracies.
B) those who own means of production as in control of political decisions.
C) the political process and economic policies dominated by corporate-conservative coalition.
D) inequality of economic resources but stress unfairness can be fixed.

Question 8

Which perspective is best suited to examine government's fiscal policy regarding taxation and expenditures as an outcome of capitalist interest?

A) postmodernism
B) rational choice
C) institutionalists
D) class

Question 9

_________ perspective is best suited to explore the rise of consumer culture in the US.

A) postmodernism
B) rational choice
C) institutionalist
D) class

Question 10

Which perspective sees politics operating in an era of "disorganized capitalism" with a messy and uncertain worldview?

A) postmodernism
B) rational choice
C) institutionalist
D) class

Question 11

Postmodernism examines the connection between consumer culture and political identity.

A) postmodernism
B) rational choice
C) institutionalist
D) class

Question 12

Which perspective is best suited to examine government's fiscal policy regarding taxation and expenditures?

A) postmodernism
B) rational choice
C) institutionalists
D) class

Question 13

Institutionalists examine:

A) the connection between consumer culture and political identity.
B) the relationships between government policy and spending.
C) how politicians and administrators influence political and socio-economic organization in society.
D) none of the above.

Question 14

Class domination perspective sees:

A) the economy as dominated by small enterprises closely aligned with political bureaucracies.
B) those who own means of production as in control of political decisions.
C) the political process and economic policies dominated by a corporate-conservative coalition.
D) inequality of economic resources but stress unfairness can be fixed.

Question 15

__________ and ___________ are the two main coalitions identified by Domhoff in his class domination theory of power.

A) capitalist; labor
B) corporate leaders; capitalist
C) corporate-conservative; liberal-labor
D) Democrat; Republicans

Question 16

__________ refer to a group of top executives and board of directors who are supported by many patriotic, antitax, and single-issue groups.

A) Wall Street
B) Power Elite
C) Corporate-conservative coalition
D) Liberal-labor coalition

Question 17

__________ refer to a group of university communities, churches, minority communities, and unions.

A) Wall Street
B) Power Elite
C) Corporate-conservative coalition
D) Liberal-labor coalition

Question 18

Neoliberalism is a:

A) political conservative economic philosophy that emphasizes the ideal or free market and free trade.
B) contemporary form of the liberal-labor coalition that challenges the corporate community.
C) the belief that the economy cannot growth without the intervention of government into free markets.
D) none of the above

Question 19

Which of the following was not the outcome of the Great Recession?

A) massive stock value decline
B) foreclosures of millions of homes
C) taxpayer bailouts to large corporations
D) all of the above

Question 20

The authors discuss all of the following as causes to the Great Recession except:

A) lax or lacking governmental regulation
B) regulations monitoring the connections between commercial and investment banking
C) encouragement for homeownership
D) incentives among bankers and mortgage originators to encourage homeownership

Question 21

Which of the following played the biggest role in the 2007-2008 financial collapse and eventual Great Recession?

A) predatory lending practices
B) misrepresentation of mortgage loans to borrowers and investors
C) repeal of Glass-Steagall Act
D) all of the above

Question 22

According to political sociologist, the middle class in the United States is the result of all of the following except:

A) compulsory education
B) labor unions
C) regressive taxation
D) social security

Question 23

Taxation refers to:

A) as an individual's income increases so does their rate of taxation
B) as an individual's income increases their rate of taxation remains the same.
C) some sort of financial or monetary charge imposed by government.
D) all of the above

Question 24

What federal expenditure is the largest?

A) national defense, veterans, foreign affairs
B) Social security, Medicare, other retirement
C) law enforcement and general government operations
D) net interest and debt payments

Question 25

_________ argued that the only way to effectively reduce income inequality is through progressive taxation.

A) John Kenneth Galbraith
B) Karl Marx
C) Benjamin Franklin
D) Barack Obama

Question 26

Which group has benefited greatly from changes in taxation policies over the last 40 years?

A) working class
B) middle class
C) corporations
D) small business

Question 27

Corporations currently pay ______ percent tax rate.

A) 15
B) 21
C) 31
D) 35

Question 28

Social welfare programs include all of the following except:

A) Social Security
B) Medicare
C) Public assistance programs
D) Infrastructure expenditures

Question 29

All of the following are examples of corporate welfare except:

A) Social Security
B) bailouts
C) direct subsidies
D) indirect subsidies

Question 30

Social Security provides support for all of the following except?

A) retirement
B) disability
C) family medical leave
D) survivor benefits

Question 31

Which of the following programs target reducing poverty in the United States?

A) social security
B) SNAP
C) TANF
D) they all focus on reducing poverty

Question 32

Poor children are:

A) at 2 times higher risk for a short term stay in the hospital
B) at 1.4 times as likely to have a learning disability
C) at 1.7 times higher risk of child mortality
D) all of the above

Question 33

Which form of debt do the authors consider most problematic for the U.S.?

A) government
B) business
C) household
D) they are all equally problematic

Question 34

Defaulting on consumer debt can lead to:

A) low credit scores
B) lawsuits
C) contact by collection agencies
D) all of the above

Question 35

Who is most likely to file for bankruptcy?

A) the elderly
B) young couples
C) parents with children
D) all are equally likely to file for bankruptcy

Question 36

Who is most likely to file for bankruptcy?

A) the poor
B) the working class
C) the middle class
D) the upper class

Question 37

Pluralist see the economy as dominated by large corporations closely aligned with political bureaucracies.

Question 38

Pluralist would argue that the masses are not being provided adequate information that would enable them to make educated economic and political decisions.

Question 39

The elite-managerial perspective sees those who own means of production as in control of political decisions.

Question 40

Some elite-managerial theorists distrust the masses and see them as apathetic, incompetent, and unable to make informed decisions.

Question 41

Rational choice theorist examines the connection between consumer culture and political identity.

Question 42

Institutionalists examine how politicians and administrators influence political and socio-economic organization in society.

Question 43

According to Domhoff's theory of class-domination, the majority of people in the United States are not strongly loyal to either the liberal-labor or corporative-conservative coalitions.

Question 44

Neoliberalism is a the belief that the economy cannot growth without the intervention of government into free markets.

Question 45

Credit default swap is a tradable or securitized insurance plan used to protect investors against risky investments.

Question 46

The Financial Modernization Act of 2010 was one of the main governmental policy responses to the Great Recession.

Question 47

PEW Research Center shows the middle class has gained minimally as a percentage of the overall population and its median income.

Question 48

Since 1955, individual federal taxes on income have decreased as a means of taxation for the middle class, while higher payroll, state, and local taxes have hit the middle class hard.

Question 49

Corporations currently pay a much lower percentage of their income to tax revenues in comparison with individual taxpayers.

Question 50

In comparison to other developed Western countries, the United States is on the higher end of the tax range.

Question 51

According to public opinion polling, a majority of Americans oppose governmental support for people who cannot care for themselves.

Question 52

Empirical research studies have documented that political leaders frequently respond to mass political unrest by expanding the welfare state.

Question 53

The United States has experienced slight improvements in its infrastructure, but is still lacking significantly in a number of areas.

Question 54

__________ refers to the relationship between politics and the economy.

Question 55

__________perspective sees inequality of economic resources but stress unfairness can be fixed.

Question 56

__________ perspective sees those who own means of production as in control of political decisions.

Question 57

__________ and ___________ are the two coalitions identified by Domhoff in his class domination theory of power.

Question 58

__________ is a political conservative economic philosophy that emphasizes the ideal or free market and free trade.

Question 59

_________refers to one of the worst recessions experienced by the United States since the 1930s following the 2007 housing collapse.

Question 60

Due to the lack of governmental oversight on financial instrument innovations such as _________ and __________, the United States quickly went into recession once the subprime mortgage market started to falter.

Question 61

The _________ Act of 2010 was one of the main governmental policy responses to the Great Recession.

Question 62

As a result of the Great Recession, the liberal activists organized around the social movement called_________; while conservative activists organized ____________.

Question 63

_________refers to as an individual's income increases their rate of taxation remains the same.

Question 64

_________refers to the supply and use of social programs for a target population.

Question 65

________ refers to various forms of governmental programs and policies that benefit corporations.

Question 66

________ provides retirement, disability, family, and survivor benefits to qualified Americans.

Question 67

Highway construction that helps the trucking industry is an example of ___________.

Question 68

__________ refers to spending and projects related to transportation, water/sewer, wastewater treatment, mass transit, highways, bridges, levees, utilities and so on.

Question 69

Think of a problem you have experienced during your life-or are currently experiencing. Consider the ways this problem connects with the politics and government. Discuss the problem sociologically and identify how it influenced who you are today. Consider: (a) what is the problem? (b) how this private trouble is related to a public issue?

Question 70

How would each of the following perspectives view the connection between politics and culture? (a) pluralism; (b) elite-managerial; (c) class; (d) rational choice; (e) institutionalist; and (f) postmodern.

Question 71

Describe the differences between consumer/household debt, business debt, and governmental debt.

Question 72

Who goes bankrupt? Why do they go bankrupt?

Question 73

Using Hurricane Sandy as a case study, describe the relationship between politics and the economy. Address specific concerns between politics and the economy as they relate to governmental politics, bureaucratic organizations, and infrastructure spending.

Question 74

Think about the various ways in which the authors describe how politics/government and the economy are connected. Take a few minutes to write down a thorough list of how these two relate. Next, think about the six theoretical approaches discussed in detail by the authors (pluralist, elite, class, postmodern, rational choice, institutionalist, and class-domination). Think about how each perspective offers unique insight into the financial collapse of 2007-2008.

Question 75

Think of a problem you have experienced during your life-or are currently experiencing. Consider the ways this problem connects with the politics and government. Discuss the problem sociologically and identify how it influenced who you are today. Consider: (a) what is the problem? (b) how has this private trouble influenced your life? Next, identify how your individual problem relates to a large social problem. Specifically, how does your private trouble relate to larger societal problems? Finally, how does your private trouble and the public issue relate to the social institution of politics and government?