Question 1

When one store stays open late to gain an advantage, its competitors begin to stay open late, too. At this point the first store is no better off than it was before, but now every store has additional expenses. This illustration is an example of what Frank and Cook call a
A) capitalistic marathon.
B) market economy.
C) positional arms race.
D) struggle for parity.
E) virtual conflict.

Accepted Answer

The illustration of stores staying open late to gain an advantage and then their competitors doing the same is an example of a positional arms race. This is where competitors engage in a cycle of increasing expenditures in order to maintain their relative position within the market. In this case, the stores are trying to gain an advantage over each other by staying open later, but because they all adopt this tactic, they end up with the same level of advantage/parity as before, but with additional expenses.

Question 2

According to the Encyclopedia of Computer Science, a "programmable machine that either in performance or appearance imitates human activities" is called a
A) computer.
B) deltoid.
C) mechano.
D) robot.
E) transformer.

Accepted Answer

The given description matches the definition of a robot, which is a programmable machine that imitates human activities. Therefore, option D is the correct choice. Options A, B, C, and E do not match the given description accurately.

Question 3

One way automation can lead to the creation of new jobs is by
A) producing products quicker, thus shortening the work week.
B) reducing the price of a product, thus increasing people's real income.
C) consuming fewer resources, thus improving the environment.
D) All of the above
E) None of the above is true. Automation always causes a net loss of jobs.

Accepted Answer

B

Question 4

In some markets a few top performers receive a disproportionate share of the rewards. Frank and Cook call this phenomenon
A) capitalism.
B) inevitable.
C) liberalism.
D) socialism.
E) the winner-take-all effect.

Accepted Answer

The winner-take-all effect refers to the situation where a few top performers reap a disproportionately large share of the rewards, leaving little for the rest. This phenomenon is observed in many markets, especially those driven by talent or personal connections, such as entertainment, sports, or technology. It is not necessarily inevitable, nor is it a result of capitalism, liberalism, or socialism, but rather a consequence of the specific dynamics of certain markets.

Question 5

In 1997 IBM supercomputer Deep Blue
A) defeated world chess champion Gary Kasparov in a six-game match.
B) proved the existence of God.
C) drove a minivan across the United States.
D) designed the Pentium chip.
E) replaced John O'Leary as Chief Financial Officer of IBM.

Accepted Answer

In 1997, Deep Blue defeated world chess champion Gary Kasparov in a six-game match.

Question 6

Productivity in the United States doubled between 1945 and 1990. However, the work week didn't get shorter because
A) income taxes were raised.
B) the standard of living increased.
C) corporate downsizing reduced the number of people in the workforce.
D) the pay of CEOs skyrocketed.
E) taxes doubled between 1945 and 1990.

Accepted Answer

The standard of living increased, which led to a higher demand for goods and services, requiring workers to maintain their level of productivity over a longer work week. Income taxes, corporate downsizing, CEO pay, and taxes doubling are not directly related to the length of the work week.

Question 7

The process by which a new technology is assimilated into a society is called
A) cultural relativism.
B) globalization.
C) IT leverage.
D) social receptivity index.
E) technological diffusion.

Accepted Answer

Technological diffusion refers to the process by which a new technology spreads or gets adopted by a society. It involves understanding the factors that influence its adoption and usage, including social, cultural, economic, and political factors. A successful technological diffusion requires an understanding of the different stakeholders involved and their needs, as well as the availability of supporting infrastructure and resources.

Question 8

Manufacturing employment in the United States peaked
A) during World War II.
B) in 1959.
C) in 1979.
D) in 1999.
E) None of the above is true. Manufacturing employment in the United States continues to increase.

Accepted Answer

Manufacturing employment in the United States peaked in 1979 and has been declining since then.

Question 9

Supply-chain automation
A) streamlines organizations by eliminating transactional middlemen.
B) is one way Dell Computer keeps its costs low.
C) links computers at different companies.
D) All of the above
E) None of the above

Accepted Answer

A) Supply-chain automation reduces the need for transactional middlemen, thus streamlining the organizations involved in the supply chain process.

B) Dell Computer is known for using supply-chain automation to keep its costs low by reducing human labor in the manufacturing and distribution processes.

C) Supply-chain automation involves linking the computer systems of different companies involved in the supply chain process to improve communication and efficiency.

Therefore, all of the above choices are correct.

Question 10

The phrase "digital divide" refers to the situation where
A) some people have access to information technology and others do not.
B) users of Macintosh computers are at a disadvantage compared to users of Windows computers.
C) only stockholders in high-tech companies can get rich in the new economy.
D) the U.S. government prevents information technology from being exported to "unfriendly" countries.
E) the prices of computers are kept artificially high in order to keep them out of the hands of people in Third World countries.

Accepted Answer

The digital divide refers to the unequal distribution of access to information technology, where some people have access to it and others do not. This can be due to factors such as economic status, geographic location, age, and education level.

Question 11

Globalization is
A) the creation of international computer networks.
B) the process of creating a worldwide network of businesses and markets.
C) the adoption of global Internet standards.
D) the adoption of English as the language of business.
E) the way that stock exchanges stay open 24 hours a day.

Accepted Answer

Globalization refers to the process of creating a worldwide network of businesses and markets, with the goal of increasing interconnectivity and interdependence among countries. It involves the movement of goods, capital, people, and ideas across borders, and has implications for economic, political, and social structures around the world. Globalization has been facilitated by advances in technology, transportation, and communication, among other factors.

Question 12

Artificial intelligence is the field of computer science and engineering that focuses on ways to get machines to exhibit
A) consciousness.
B) ethical behavior.
C) intelligent behavior.
D) philosophical insights.
E) scientific breakthroughs.

Accepted Answer

Artificial intelligence is about creating machines that can exhibit intelligent behavior, such as understanding natural language or recognizing patterns in data. While there are discussions about how to incorporate ethics into AI, it is not the main focus of the field. Consciousness and philosophical insights are more related to philosophy than to AI specifically. Scientific breakthroughs can be achieved using AI, but again, it is not the primary goal of the field.

Question 13

In medieval England, when wages went up,
A) more children joined the labor force.
B) more women joined the labor force.
C) students dropped out of school to take up jobs.
D) workers put in fewer hours.
E) A, B, and C.

Accepted Answer

When wages went up in medieval England, workers chose to work fewer hours, valuing leisure time over additional income, reflecting a preference for a balanced lifestyle over maximizing earnings.

Question 14

According to Max Weber, the growth of capitalism was stimulated by a new attitude toward work brought about by
A) the Industrial Revolution.
B) the Protestant Reformation.
C) the English Civil War.
D) the Lisbon earthquake of 1755.
E) the American Revolution.

Accepted Answer

Max Weber argued that the growth of capitalism was stimulated by a new attitude toward work, which he believed was brought about by the Protestant Reformation. Specifically, he pointed to the Calvinist doctrine of predestination, which held that God had already determined who would be saved and who would be damned. This led Calvinists to believe that success in this life was a sign of God's favor and salvation, and thus they placed a high value on hard work, thrift, and self-discipline as a means of demonstrating their piety and securing their place in the afterlife. This attitude, according to Weber, helped to create the capitalist ethos of accumulation, rational calculation, and the pursuit of profit that drove the growth of modern capitalism.

Question 15

A personal AI is
A) an intelligent machine inexpensive enough for an individual to purchase it.
B) an intelligent machine devoted to serving an individual human being.
C) a computer capable of beating human beings at games such as chess.
D) a software program, not an actual physical object.
E) a machine conscious of its own existence.

Accepted Answer

The answer of A personal AI is
A) an intelligent machine...

Question 16

In 2011 a program named Watson running on an IBM supercomputer
A) decoded the human genome for the first time.
B) became the first computer program to take the job of a software engineer.
C) won the World Crossword Puzzle Championship sponsored by The New York Times.
D) defeated the two most successful human Jeopardy! champions in a three-game match.
E) passed the Turing Test in a competition sponsored by the Association for Computing Machinery.

Accepted Answer

Watson defeated the two most successful human Jeopardy! champions in a three-game match.

Quiz 10: Work and Wealth

When one store stays open late to gain an advantage, its competitors begin to stay open late, too. At this point the first store is no better off than it was before, but now every store has additional expenses. This illustration is an example of what Frank and Cook call a

According to the Encyclopedia of Computer Science, a "programmable machine that either in performance or appearance imitates human activities" is called a

One way automation can lead to the creation of new jobs is by

In some markets a few top performers receive a disproportionate share of the rewards. Frank and Cook call this phenomenon

In 1997 IBM supercomputer Deep Blue

Productivity in the United States doubled between 1945 and 1990. However, the work week didn't get shorter because

The process by which a new technology is assimilated into a society is called

Manufacturing employment in the United States peaked

Supply-chain automation

The phrase "digital divide" refers to the situation where

Globalization is

Artificial intelligence is the field of computer science and engineering that focuses on ways to get machines to exhibit

In medieval England, when wages went up,

According to Max Weber, the growth of capitalism was stimulated by a new attitude toward work brought about by

A personal AI is

In 2011 a program named Watson running on an IBM supercomputer