Question 1

None of the specific measures proposed by Marx and Engels in the Communist Manifesto have been implemented in capitalist countries.

Accepted Answer

A) True 
 B)False

Question 2

How many Americans believe that "if you work hard enough,you'll make it?"

Accepted Answer

A)  One out of two.
B)  One out of three.
C)  One out of four.
D)  One out of five.E) A) and D)
F) A) and C)

Question 3

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) A) and B)
F) B) and C)

Question 4

Marxism states

Accepted Answer

A)  capitalism leads to a concentration of property and thus a concentration of resources and power in relatively few hands.
B)  socialism will eventually be replaced by financial capitalism.
C)  the means of production should be placed under the control of the bourgeoisie.
D)  only workers who are poorly paid in a capitalist system are alienated.E) B) and C)
F) A) and D)

Question 5

Though many jobs are outsourced,most economists believe

Accepted Answer

A)  Mexico is the place to work.
B)  the United States is in trouble.
C)  the economy will create new jobs in the USA.
D)  manufacturing will make a comeback.E) None of the above
F) B) and D)

Question 6

Capitalism is possible without private property.

Accepted Answer

A) True 
 B)False

Question 7

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) A) and D)
F) B) and C)

Question 8

What objection to laissez-faire do you find the most persuasive? How might one defend laissez-faire from such an objection?

Accepted Answer

The most persuasive objection to laissez...

Question 9

Sometimes capitalism is defended based on the idea that we have a natural right to property.How might this defense be criticized?

Accepted Answer

The defense of capitalism based on the i...

Question 10

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 11

Utilitarians reject the very idea of a natural right to property.

Accepted Answer

A) True 
 B)False

Question 12

Adam Smith claims that the people seeking self-interest in a free market through competition can benefit society as a whole.

Accepted Answer

A) True 
 B)False

Question 13

How do defenders of capitalism respond to critics who point to the profound economic inequalities that characterize capitalist society?

Accepted Answer

Defenders of capitalism often respond to...

Question 14

According to Adam Smith,the division of labor decreases economic activity.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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) A) and B)
F) C) and D)

Question 17

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 18

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

Accepted Answer

A) True 
 B)False

Question 19

Which of the following historical stages of capitalism came first?

Accepted Answer

A)  financial
B)  mercantile
C)  industrial
D)  state welfareE) A) and B)
F) None of the above

Question 20

The capitalism that we know today in the United States is a "pure" form of laissez-faire capitalism.

Accepted Answer

A) True 
 B)False

Exam 4: The Nature of Capitalism

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

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A basic tenet of capitalism is that

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Though many jobs are outsourced,most economists believe

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None of the specific measures proposed by Marx and Engels in the Communist Manifesto have been implemented in capitalist countries.

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What objection to laissez-faire do you find the most persuasive? How might one defend laissez-faire from such an objection?

Correct AnswerAnswered by ExamLex AIThe most persuasive objection to laissez...View AnswerShow Answer

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

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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

An exclusive focus on short-term performance

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Utilitarians reject the very idea of a natural right to property.

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Capitalism is possible without private property.

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Sometimes capitalism is defended based on the idea that we have a natural right to property.How might this defense be criticized?

Correct AnswerAnswered by ExamLex AIThe defense of capitalism based on the i...View AnswerShow Answer

Adam Smith claims that the people seeking self-interest in a free market through competition can benefit society as a whole.

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How many Americans believe that "if you work hard enough,you'll make it?"

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Marxism states

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Which of the following historical stages of capitalism came first?

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According to Adam Smith,the division of labor decreases economic activity.

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How do defenders of capitalism respond to critics who point to the profound economic inequalities that characterize capitalist society?

Correct AnswerAnswered by ExamLex AIDefenders of capitalism often respond to...View AnswerShow Answer

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

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The capitalism that we know today in the United States is a "pure" form of laissez-faire capitalism.

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Which of the following accurately reflects the concept of Marxism?

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The most persuasive objection to laissez...
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When it is said that American companies ...
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The defense of capitalism based on the i...
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Defenders of capitalism often respond to...
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