18.7: Section Quiz

18.1 Economic Systems

1.

Which of these is an example of a commodity?

1. A restaurant meal
2. Corn
3. A college lecture
4. A book, blog entry, or magazine article

2.

When did the first economies begin to develop?

1. When all the hunter-gatherers died
2. When money was invented
3. When people began to grow crops and domesticate animals
4. When the first cities were built

3.

What is the most important commodity in a postindustrial society?

1. Electricity
2. Money
3. Information
4. Computers

4.

In which sector of an economy would someone working as a software developer be?

1. Primary
2. Secondary
3. Tertiary
4. Quaternary

5.

Which is an economic policy based on national policies of accumulating silver and gold by controlling markets with colonies and other countries through taxes and customs charges?

1. Capitalism
2. Communism
3. Mercantilism
4. Mutualism

6.

Who was the leading theorist on the development of socialism?

1. Karl Marx
2. Heidimarie Schwermer
3. Émile Durkheim
4. Adam Smith

7.

The type of socialism now carried on by Russia is a form of ______ socialism.

1. centrally planned
2. market
3. utopian
4. zero-sum

8.

Among the reasons socialism never developed into a political movement in the United States was that trade unions _________.

1. secured workers’ rights
2. guaranteed health care
3. broke up monopolies
4. diversified the workforce

9.

Which country serves as an example of convergence?

1. Singapore
2. North Korea
3. England
4. Canada

18.2 Globalization and the Economy

10.

Ben lost his job when General Motors closed U.S. factories and opened factories in Mexico. Now, Ben is very anti-immigration and campaigns for large-scale deportation of Mexican nationals, even though, logically, their presence does not harm him and their absence will not restore his job. Ben might be experiencing _____________.

1. xenophobia
2. global commodity chains
3. xenophilia
4. global assembly line

11.

Which of the following is not an aspect of globalization?

1. Integrating governments through international trade
2. Integrating cultures through international trade
3. Integrating finance through international trade
4. Integrating child care through international trade

12.

One reason critics oppose globalization is that it:

1. has positive impacts on world trade
2. has negative impacts on the environment
3. concentrates wealth in the poorest countries
4. has negative impacts on political stability

13.

All of the following are characteristics of global cities, except:

1. headquarter multinational corporations
2. exercise significant international political influence
3. host headquarters of international NGOs
4. host influential philosophers

14.

Which of the following is not a characteristic of multinational corporations?

1. A large share of their capital is collected from a variety of nationalities.
2. Their business is conducted without regard to national borders.
3. They concentrate wealth in the hands of core nations.
4. They are headquartered primarily in the United States.

18.3 Work in the United States

15.

Which is evidence that the United States workforce is largely a meritocracy?

1. Job opportunities are increasing for highly skilled jobs.
2. Job opportunities are decreasing for midlevel jobs.
3. Highly skilled jobs pay better than low-skill jobs.
4. Women tend to make less than men do for the same job.

16.

If someone does not earn enough money to pay for the essentials of life he or she is said to be _____ poor.

1. absolutely
2. essentially
3. really
4. working

17.

What is the practice where the differences between low-end and high-end jobs become greater and the number of people in the middle levels decreases?

1. polarization
2. meritocracy
3. outsourcing
4. structural unemployment