Question 1

Government programs often subsidize American businesses and protect them from competition.

Accepted Answer

A) True 
 B)False

Question 2

If it's true that individuals have a natural right to own property, then there can be no limits on this right.

Accepted Answer

A) True 
 B)False

Question 3

Property ownership involves a generally complex bundle of rights and rules governing how, under what circumstances, and in what ways both the owner and others can use, possess, dispose of, and have access to the thing in question.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is an accurate statement?

Accepted Answer

A)   Adam Smith defends capitalism by appealing to the idea of a natural, moral right to property.
B)   Adam Smith denies that human beings are, by nature, acquisitive creatures.
C)   common defense of capitalism is the argument that people have a fundamental moral right to property and that our capitalist system is simply the outcome of this natural right.
D)   Utilitarians oppose capitalism in principle.E) B) and C)
F) A) and B)

Question 5

Which of the following accurately reflects the concept of Marxism?

Accepted Answer

A)   It is only within a capitalist economic system that workers are not alienated from the products of their labor.
B)   Only workers who are poorly paid for their labor are alienated.
C)   Within a capitalist economic system, the activity of labor is an end in itself and, as a result, has intrinsic value.
D)   Labor is alienated in a capitalist economic system (in part)  because the labor of a worker stands opposed to the worker as an autonomous power.E) B) and C)
F) All of the above

Question 6

According to Marx, when workers are alienated they are not truly free.

Accepted Answer

A) True 
 B)False

Question 7

Is manufacturing vital to the success and well being of America? Justify your answer

Accepted Answer

Yes, manufacturing is vital to the succe...

Question 8

According to Alfie Kohn, competition promotes individual and group achievement better than cooperation.

Accepted Answer

A) True 
 B)False

Question 9

A basic tenet of capitalism is that

Accepted Answer

A)   property refers only to physical objects.
B)   ownership is a simple relationship between a person and the thing owned.
C)   capitalism requires private ownership of the major means of production.
D)   in the 21st century, capitalism no longer requires capital.E) None of the above
F) C) and D)

Question 10

As a classical moral justification of capitalism, the natural right to property is a utilitarian justification.

Accepted Answer

A) True 
 B)False

Question 11

Some critics believe that "competition is not a good" because trying to do well and trying to beat others are two different things.

Accepted Answer

A) True 
 B)False

Question 12

The sense of private property that is central to capitalism is the ownership of the means of production and distribution.

Accepted Answer

A) True 
 B)False

Question 13

Explain how the tenets of Buddha fit or differ with the American economic system.

Accepted Answer

The tenets of Buddha, which include the ...

Question 14

What does it mean to say that American companies are too focused on the short term?

Accepted Answer

When it is said that American companies ...

Question 15

An exclusive focus on short-term performance

Accepted Answer

A)   is the best guarantee of a company's long-term performance.
B)   has helped to create a high-pressure environment conducive to fraud.
C)   encourages long-term research and development.
D)   hurts stock prices.E) All of the above
F) C) and D)

Question 16

More Americans are putting aside job success to

Accepted Answer

A)   win the lottery.
B)   be with their families.
C)   get education.
D)   travel abroad.E) A) and D)
F) A) and C)

Question 17

According to Adam Smith, individuals have natural endowments that should determine the kind of work they do.

Accepted Answer

A) True 
 B)False

Question 18

Socialism is an economic system characterized by public ownership of the means of production and distribution, and a planned economy.

Accepted Answer

A) True 
 B)False

Question 19

According to John Stuart Mill, what makes capitalism a desirable economic system is the type of worker-capitalist relationship inherent in capitalism.

Accepted Answer

A) True 
 B)False

Question 20

Which statement creates the best picture of capitalism?

Accepted Answer

A)   Industrial capitalism is characterized by pools, trusts, holding companies and an interpenetration of banking, insurance and industrial interests.
B)   Mercantile capitalism emerged in the United States in the period directly following the civil war.
C)   In state welfare capitalism the government plays an active role in regulating economic activities in an effort to smooth out the boom-and-bust pattern of the business cycle.
D)   Financial capitalism developed in the period immediately prior to the Renaissance.E) A) and D)
F) C) and D)

Exam 4: The Nature of Capitalism

Property ownership involves a generally complex bundle of rights and rules governing how, under what circumstances, and in what ways both the owner and others can use, possess, dispose of, and have access to the thing in question.

Correct AnswerverifiedShow Answer

A basic tenet of capitalism is that

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Explain how the tenets of Buddha fit or differ with the American economic system.

Correct AnswerAnswered by ExamLex AIThe tenets of Buddha, which include the ...View AnswerShow Answer

According to Adam Smith, individuals have natural endowments that should determine the kind of work they do.

Correct AnswerverifiedShow Answer

An exclusive focus on short-term performance

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Which of the following is an accurate statement?

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According to Marx, when workers are alienated they are not truly free.

Correct AnswerverifiedShow Answer

According to John Stuart Mill, what makes capitalism a desirable economic system is the type of worker-capitalist relationship inherent in capitalism.

Correct AnswerverifiedShow Answer

The sense of private property that is central to capitalism is the ownership of the means of production and distribution.

Correct AnswerverifiedShow Answer

If it's true that individuals have a natural right to own property, then there can be no limits on this right.

Correct AnswerverifiedShow Answer

Socialism is an economic system characterized by public ownership of the means of production and distribution, and a planned economy.

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More Americans are putting aside job success to

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Is manufacturing vital to the success and well being of America? Justify your answer

Correct AnswerAnswered by ExamLex AIYes, manufacturing is vital to the succe...View AnswerShow Answer

According to Alfie Kohn, competition promotes individual and group achievement better than cooperation.

Correct AnswerverifiedShow Answer

Some critics believe that "competition is not a good" because trying to do well and trying to beat others are two different things.

Correct AnswerverifiedShow Answer

Which of the following accurately reflects the concept of Marxism?

Correct AnswerverifiedShow Answer

As a classical moral justification of capitalism, the natural right to property is a utilitarian justification.

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Which statement creates the best picture of capitalism?

Correct AnswerverifiedShow Answer

What does it mean to say that American companies are too focused on the short term?

Correct AnswerAnswered by ExamLex AIWhen it is said that American companies ...View AnswerShow Answer

Government programs often subsidize American businesses and protect them from competition.

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The tenets of Buddha, which include the ...
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Answered by ExamLex AI
Yes, manufacturing is vital to the succe...
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Answered by ExamLex AI
When it is said that American companies ...
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