Deck 10: Economy and Politics

Question 1

Which term refers to businesses with a legal existence, including rights and liabilities, apart from those of their members?

A)family business
B)conglomerate
C)corporation
D)interlocking directorate

Answer 1

C

Question 2

In Western European nations, including Italy, France, and Sweden, which political and economic system is common?

A)state capitalism
B)pure socialism
C)welfare capitalism
D)pure capitalism

Answer 2

C

Question 3

In the United States

A)the economic activity of corporations is far greater than that of government.
B)most economic production occurs in the government sector.
C)government assistance to corporations is limited to periods of crisis.
D)the government does nothing to shape economic life.

Answer 3

A

Question 4

Which of the following statements about socialism is correct?

A)In practice, socialist nations have less economic inequality than capitalist nations.
B)Compared to capitalist nations, socialist systems have a relatively high overall standard of living.
C)Compared to capitalist nations, socialist societies provide more individual liberty and freedom.
D)Socialist systems are purely theoretical and have never been put into practice.

Question 5

Capitalism is an economic system in which natural resources and the means of producing goods and services are

A)government owned.
B)owned equally by the government and private interests.
C)privately owned.
D)owned by political parties.

Question 6

In which type of political system does a single family rule from generation to generation?

A)democracy
B)autocracy
C)plutocracy
D)monarchy

Question 7

You probably approve of the operation of WalMart if you support

A)state capitalism.
B)pure capitalism.
C)pure socialism.
D)businesses that are family owned and operated.

Question 8

Which of the following countries is currently ruled by a monarchy?

A)the United States
B)Saudi Arabia
C)France
D)Italy

Question 9

Which concept refers to a political system in which power is exercised by the people as a whole?

A)democracy
B)aristocracy
C)authoritarianism
D)monarchy

Question 10

Which type of political system, by definition, denies popular participation in government?

A)capitalism
B)authoritarianism
C)democracy
D)socialism

Question 11

The formal organization that directs the political life of a society is

A)the economy.
B)politics.
C)religion.
D)government.

Question 12

In a socialist economy,

A)the right of individuals to own productive property is unlimited.
B)the emphasis on self-interest is an efficient motivation for both production and pricing.
C)there is a collective orientation, teaching people to be motivated by serving the common good.
D)the means of production are privately owned.

Question 13

About what percentage of eligible voters actually voted in the 2012 presidential election?

A)98 percent
B)78 percent
C)57 percent
D)38 percent

Question 14

The social institution that organizes the production, distribution, and consumption of goods and services is

A)the economy.
B)government.
C)politics.
D)religion.

Question 15

According to Karl Marx,

A)capitalism's private ownership of productive property allows an elite to dominate society.
B)capitalism operates to meet the needs of everyone.
C)in a capitalist society, everyone will work as a matter of social responsibility.
D)capitalism creates the most social justice.

Question 16

In the United States, about what percentage of the gross domestic product comes from the privately owned sector of the economy?

A)42 percent
B)62 percent
C)82 percent
D)100 percent

Question 17

According to Scottish economist Adam Smith,

A)the pursuit of self-interest has widespread benefits from producing the greatest good for the greatest number of people.
B)the selfish effort that characterizes capitalism results in higher prices and increased inequality.
C)capitalism is most productive when it is managed by government.
D)equality in power and wealth result from an economy operating according to supply and demand.

Question 18

Which type of economic system has government working closely with large, privately owned companies?

A)state socialism
B)state capitalism
C)social welfare
D)state welfare

Question 19

What is the social institution that guides a society's collective decision-making process?

A)education
B)economics
C)politics
D)mass media

Question 20

Which type of economic system places natural resources and the means of producing goods and services under collective ownership?

A)capitalism
B)a mixed economy
C)feudalism
D)socialism

Question 21

The Nineteenth Amendment to the U.S. Constitution extended the vote to

A)African American men.
B)women.
C)eighteen-year-olds.
D)Native Americans.

Question 22

Which of the following was least likely to have voted in the 2012 presidential election?

A)Eleanor, a 60-year-old public school teacher in Dubuque, Iowa.
B)Juan, a 20-year-old high-school dropout from Corpus Christi, Texas
C)Martin, a 45-year-old African-American with a Ph.D.in divinity, living in Los Angeles.
D)Patricia, a 28-year-old white woman, who attended a year of community college in New Hampshire before having two children.

Question 23

African American men were granted the right to vote in

A)1830.
B)1870.
C)1920.
D)1960.

Question 24

Assume a member of the Kodak Corporation's board of directors also serves on the boards of other camera manufacturers, such as Nikon and Fuji. This pattern would illustrate the operation of

A)an oligopoly.
B)a plutocracy.
C)an oligarchy.
D)an interlocking directorate.

Question 25

Although 78 percent of people earning more than $100,000 per year reported voting in the 2012 presidential election, what percentage of people earning less than $10,000 did the same?

A)67 percent
B)47 percent
C)27 percent
D)7 percent

Question 26

Which term refers to a giant corporation composed of many smaller corporations?

A)oligopoly
B)conglomerate
C)monopoly
D)oligarchy

Question 27

Critics say that our system of campaign financing

A)allows the most popular candidates to gain the most money.
B)enhances democracy.
C)puts the U.S.political system up for sale.
D)raises too little money.

Question 28

Which term refers to organizations formed by special-interest groups to raise and spend money in support of political goals?

A)fund raisers
B)political action committees (PACs)
C)soft money boards
D)lobbyists

Question 29

Which concept refers to the domination of a market by a few companies?

A)monopoly
B)oligarchy
C)oligopoly
D)plutocracy

Question 30

In the United States, people most likely to vote include

A)people with lower incomes.
B)younger people.
C)older people.
D)convicted felons.

Question 31

The domination of an entire market by a single company is referred to as

A)a monopoly.
B)an oligopoly.
C)an oligarchy.
D)a plutocracy.

Question 32

Conservatives claim that relatively low voter turnout is mostly a sign of

A)how busy most people are.
B)how uneducated our population is.
C)indifference on the part of many people who are fairly satisfied with the way things are.
D)widespread alienation from politics on the part of those who feel that the system doesn't do anything for them.

Question 33

Which concept refers to the efforts of special-interest groups and their representatives to influence government officials?

A)campaigning
B)stumping
C)lobbying
D)interlocking

Question 34

In 2013, there were about how many political action committees (PACs) in the United States?

A)7
B)700
C)2,700
D)5,700

Question 35

Which term refers to networks of people who serve as directors of several corporations at the same time?

A)conglomerate
B)corporate board
C)interlocking directorate
D)oligarchy

Question 36

In the 2012 presidential election, the Obama-Biden and Romney-Ryan campaigns each spent how much money in their efforts to win the election?

A)$10 million
B)$100 million
C)$1 billion
D)$1 trillion

Question 37

The 2002 Bipartisan Campaign Reform Act, also called the McCain-Feingold bill,

A)outlawed political action committees.
B)states that soft money can no longer flow directly to candidates or political parties.
C)limited individual contributions, but allowed PACs to contribute without limits.
D)requires that candidates pool their campaign contributions, and then distribute the money equally.

Question 38

In the United States, the manufacture of breakfast cereal is dominated by Kellogg's, General Mills, and General Foods, which together control most sales. This pattern is an illustration of

A)monopoly.
B)oligarchy.
C)plutocracy.
D)oligopoly.

Question 39

Which concept refers to political alliances of people interested in some economic or social issue?

A)conglomerate
B)special-interest group
C)oligopoly
D)oligarchy

Question 40

Liberals and radicals on the left argue that low voter turnout reflects

A)widespread alienation from politics on the part of people who are dissatisfied but doubt that voting will make a difference.
B)indifference of people who are fairly satisfied with the way things are.
C)how uneducated our population is.
D)the fact that voting is not required by law in the United States.

Question 41

As he prepared to leave office in 1961, President Dwight D. Eisenhower gave a farewell address in which he warned the country of the growing power of what he called the

A)gender gap.
B)pluralist influence.
C)military-industrial complex.
D)interlocking-directorate.

Question 42

Compare and contrast the economic models of capitalism and socialism. Use the ideas of Adam Smith and Karl Marx in your answer.

Question 43

Which political model sees a concentration of wealth and power in U.S. society resulting from the operation of the capitalist economy?

A)power-elite model
B)pluralist model
C)Marxist political-economy model
D)social movements model

Question 44

Define economy and politics. Explain how the two social institutions are interrelated.

Question 45

Explain how the pluralist model, the power-elite model, and the Marxist political-economy model each provide a distinctive view of power in the United States. Provide one criticism of each model. Which model comes closest to your own view? Why?

Question 46

Explain the essential insight offered by the conservative, liberal, and radical-left approaches to this country's political economy. How might our country learn from each model to advance the cause of democracy?

Question 47

Which political position calls for reforms based on the claim that our political and economic systems benefit some more than others?

A)liberal
B)radical left
C)conservative
D)radical right

Question 48

Which political model describes power in the United States as widely distributed among various groups and organizations?

A)the power-elite model
B)the Marxist political-economy model
C)the corporate model
D)the pluralist model

Question 49

Define corporations, monopolies, conglomerates, and special-interest groups. Give an example of each. Explain how, from a political point of view, each can cause a specific social problem.

Question 50

Which of the following categories of people face legal barriers to voting?

A) convicted felons
B) people with disabilities
C) people who lack a high school diploma
D) people receiving public assistance

Question 51

Which of the following statements is correct?

A)Conservatives but never liberals favor using government power.
B)Liberals but never conservatives favor using government power.
C)Both conservatives and liberals try to use the power of government, but for different goals.
D)Neither conservatives nor liberals favor the use of government power.

Question 52

Which of the following would be considered a part of the power elite?

A)top military officials
B)owners of small, family businesses
C)all taxpayers
D)all registered voters

Question 53

In the 2012 presidential election,

A)women were slightly more likely to vote than men were.
B)men were far more likely to support the Democratic candidate.
C)women were far more likely to support the Republican candidate.
D)a much larger percentage of men than women voted.

Question 54

Which political position claims that U.S. society is largely democratic?

A)liberal
B)radical left
C)conservative
D)radical right

Question 55

According to which political position does the capitalist economy concentrate wealth in the hands of the few and the government serve the interests of the capitalist elite?

A)radical left
B)liberal
C)conservative
D)radical right