Deck 4: Families and the New Economic Realities

Question 1

The postmodern form of family life is new to the poor.

Answer 1

False

Question 2

New technologies have magnified the connections among all peoples worldwide.

Answer 2

True

Question 3

According to Zaretsky's analysis,the shift from private capitalism to industrial capitalism

A) gave rise to the organization of family life around the separate work of men and women.
B) necessitated the home-based computer work of women.
C) was not as significant to family life as was the shift from nomadic to agricultural society.
D) all of the above

Answer 3

A

Question 4

Which of the following is an effect of globalization described by the authors?

A) shorter international flight times
B) greater numbers of people using public transportation
C) a drought in one part of the world driving up commodity prices elsewhere
D) more foreign made automobiles in the U.S. market

Question 5

All of the following are forms of capital flight except

A) mergers.
B) overseas investment.
C) pay concessions from workers.
D) plant relocation within the United States.

Question 6

The postmodern family is a nuclear family with a male breadwinner and a female homemaker.

Question 7

Manufacturing by U.S.transnational corporations

A) is now mostly done in foreign countries.
B) has moved to countries with higher levels of education.
C) has been unaffected by globalization.
D) is no longer a major source of profits.

Question 8

Manufacturing employment in the United States

A) increased throughout the 20ᵗʰ century.
B) has declined since 2000.
C) still accounts for more than half of all jobs.
D) was associated with low wages and poor benefits.

Question 9

Trade agreements such as NAFTA (North American Free Trade Agreement) contribute to the loss of manufacturing employment in the United States.

Question 10

Joseph Schumpeter coined this term to describe a process inherent to capitalism in which as the economic structure of capitalism matures,some sectors will lose out while others gain.

A) sunset industry
B) creative destruction
C) perfect storm
D) flipping

Question 11

Subprime mortgages

A) went to people with excellent credit ratings.
B) went disproportionately to whites.
C) often included low initial rates that increased sharply after two years.
D) were primarily used to purchase second homes.

Question 12

The new economy

A) shifts demand from physical labor to cognitive abilities.
B) moves manufacturing to countries with cheaper labor.
C) moves white collar jobs to countries with cheaper labor.
D) all of the above
E) none of the above

Question 13

Earnings for a man with a high school degree fell by this much during the last forty years.

A) 10%
B) 20%
C) 40%
D) They didn't fall at all.

Question 14

Real wages reached only reached their peak recently.

Question 15

Corporate decision making in the globalization of the economy is a neutral process.

Question 16

Offshoring involves moving corporate activity to countries with

A) lower wages.
B) lower taxes.
C) lower benefits.
D) all of the above

Question 17

Offshoring is when a company moves its production to another country,producing the same products in the same way,but with cheaper labor,lower taxes and lower benefits to workers.

Question 18

A major source of bankruptcy is an inability to pay for catastrophic health care needs.

Question 19

About three-fourths of those working in contingent work arrangements are men.

Question 20

As a result of the Great Recession,couples married earlier and more often.

Question 21

The economic crisis of 2007 involved

A) mortgage defaults.
B) declines in mortgage-backed securities.
C) large banks facing the necessity of raising large amounts of money very quickly or failing.
D) all of the above
E) none of the above

Question 22

Since the Great Recession,the problem of hunger in the U.S.has

A) declined somewhat.
B) declined sharply.
C) steadily increased.
D) been met primarily by private sources of aid.

Question 23

As a result of the Great Recession,the number of children in poverty grew by

A) one million.
B) two million.
C) three million.
D) zero.

Question 24

When the housing bubble burst,

A) rates of foreclosure went down.
B) housing prices went up.
C) rents went down.
D) African American and Latino homeowners were disproportionately affected.

Question 25

Which of the following family forms increased as a result of the Great Recession?

A) multigenerational households
B) Adult children living with their parents.
C) Unhappily married couples living under one roof.
D) all of the above

Question 26

Which of the following has become a common way for employers to reduce their health care costs?

A) using greater numbers of independent contractors
B) raising wages so employees can purchase their own health insurance
C) reducing deductibles
D) allowing employees to get union health benefits

Question 27

During the Great Recession,the value of the average home plummeted by more than

A) 10%.
B) 20%.
C) 30%.
D) 50%.

Question 28

By 2010,the unemployment rate reached over

A) 2%.
B) 5%.
C) 8%.
D) 10%.

Question 29

With regard to fertility and child-bearing,which of the following was also associated with the Great Recession?

A) There was a dramatic increase in births.
B) There were 200,000 fewer births.
C) The birth rate stayed the same.
D) none of the above

Question 30

Poor economic conditions can have what effect on American families?

A) parents' working longer hours
B) an increase in job layoffs
C) an increase in marital problems
D) all of the above

Question 31

Which of the following is an example of an activity in the "underground economy"?

A) babysitting
B) selling food
C) doing yard work
D) all of the above

Question 32

"Derivatives" were

A) sometimes based on bundles of subprime mortgages.
B) closely regulated by the government.
C) able to generate as much as 40 times the value of the underlying assets.
D) a conservative alternative to the other more reckless forms of investment.

Question 33

According to Stacey,a "postmodern family"

A) is a flexible household that expands and contracts in response to changing family circumstances.
B) consists of a breadwinner husband and a full-time homemaker wife.
C) consists of husband, wife, and children who work a family farm.
D) refers to the new trend toward fathers retaining sole custody of their children after divorce.

Question 34

Which of the following was a result of the Great Recession in term of marriage?

A) Couples married earlier.
B) Couples cohabited less.
C) Couples married later.
D) Fewer couples got divorced.

Question 35

The Great Recession of 2007 has ______ the gap between the affluent and those who are not affluent.

A) decreased
B) not affected
C) increased

Question 36

The official unemployment rate includes those who are

A) unemployed and actively looking for full-time employment.
B) working part-time but would like to be working full-time.
C) unemployed but have given up looking for full-time employment.
D) all of the above

Question 37

Stacey finds that the household arrangements that characterize the "postmodern" family form are new to all except which group?

A) upper-class families
B) middle-class families
C) working-class families
D) poor families

Question 38

Unemployment rates are higher among

A) women than among men.
B) college-educated workers than among high-school-educated workers.
C) African Americans than among Latinos.
D) whites than among Latinos.

Question 39

The "New Homeless" are often

A) former renters rather than former homeowners.
B) the underclass.
C) the long-term poor.
D) the working poor.

Question 40

Of the 7.5 million jobs lost in the Great Recession,this many were lost by men.

A) almost ¼
B) almost ½
C) almost ¾
D) 65%

Question 41

Discuss the coping strategies families use to adapt to higher costs and lower pay.

Question 42

Discuss the indicators of contraction of consumption during difficult economic times and their consequences.

Question 43

Who are the "new poor"? What social forces have created this group and how are families in this category adapting to the consequences of their new status?

Question 44

The transformation of the U.S.economy has been cited as a major force in determining conditions of life for families.Discuss the major macrosocial forces that have combined to facilitate this transformation.