Management Test 1
________________________Mr. Obama said. "We do expect that everybody gets an equal shot. We do expect everybody to go as far as their dreams and hard work will take them. "Healthcare is a natural right," "Poverty is about a lack of opportunity," "Here in America, we don't guarantee equal outcomes," "It's important that we spread the wealth around," "The Dreamers are an essential part of our economy,"
"Here in America, we don't guarantee equal outcomes,"
Thomas Malthus predicted that increases in population would outstrip food production. A. The production of food and energy actually grew much faster than population growth. B. The risk of malnutrition continues to increase for people living in arid climates. C. Climate change has made food production even more unstable than Malthus predicted. D. Increases in farm productivity has not kept pace with rapid population growth.
A. The production of food and energy actually grew much faster than population growth.
Ariely said that when we think about labor, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it, such as A. challenges, ownership, identity, and pride. B. personal identity, satisfaction and expectations. C. personal growth, meaningful work, intrinsic challenges and long-term development. D. benevolent leadership, having a voice in the business, and profit-sharing plans. E. happiness, the joy of work, and a sense of accomplishment.
A. challenges, ownership, identity, and pride.
Leadership is the______________; management is _____________. A. management of human behavior; responsibility for resources B. people question; the money question C. power of charisma; the stewardship of money D. preferred form of influence; the responsibility for profit E. development of people; the development of natural resources
A. management of human behavior; responsibility for resources
Recent analyses show that much of what we 'know' from social science research is not confirmed by subsequent studies, A. the experimental results are unable to be replicated - or no one attempts to replicate them. B. research tends to be overstated, over-interpreted, or misinterpreted. C. people tend to defer to 'experts' and the media rather than apply their own critical thought. D. much of what researchers 'know' is based on predications and forecasts not based on evidence. E. and this means that the studies must be replicated for the original study to have value.
A. the experimental results are unable to be replicated - or no one attempts to replicate them.
Per Dan Pink, the operating system for our businesses revolves around three elements: ___________ A. challenge, commitment, and curiosity. B. autonomy, mastery, and purpose. C. money, money, and more money. D. management, motivation, and incentives E. leadership, management, and globalization.
B. autonomy, mastery, and purpose.
Performance rewards for untrained, incapable performers ______________. Work tasks require training, instruction, and direction. A. are the secret to modeling and self-efficacy B. demonstrate nothing about incentives C. motivate employees to work harder and to learn new tasks D. inspire new ideas and attract new employees E. demonstrate the need for training and development programs
B. demonstrate nothing about incentives
In 2017, the world has about 7.5 billion people and annual global economic activity has increased A. to $60 trillion, and the growth has been led by China and India. B. to $75 trillion, or ten times the rate of population growth. C. to $80 trillion, and the gap between rich and poor countries has increased. D. to $100 trillion, and China's GDP has greatly surpassed American GDP. E. to $175 trillion, and recent economic growth has stagnated.
B. to $75 trillion, or ten times the rate of population growth.
To operate effectively today requires_____________________, which requires an informed, unbiased examination of rhetoric, of claims without data, of assertions without evidence, of narrow, one-sided arguments. A. massive or "big" data B. access to resources and opportunity C. critical thinking based on knowledge D. a productive and appropriate college education E. an understanding of global economics and politics
C. critical thinking based on knowledge
Capitalism requires _____________________ for people to pursue their self-interest. A. resources and information B. opportunity and justice C. political and economic freedom D. innovation and investment E. democracy and rich markets
C. political and economic freedom
In the last thirty years, the percent of the world's people living in extreme or absolute poverty ______ A. declined at a slower rate than in the past, and the uber-rich demographic soared. B. declined, while those in relative poverty increased greatly in numbers. C remained about the same, as the number of very rich people increased. D. greatly decreased, while income inequality greatly increased. E. grew, while the number of millionaires grew even faster.
D. greatly decreased, while income inequality greatly increased.
In thinking about Pink, compliance and engagement are not mutually exclusive; _________________ A. engagement is what drives employee performance. B. compliance is debilitating to new employees but effective for older employees. C. compliance drives engagement. D. nor is compliance inferior to engagement. E. engagement secures commitment and compliance, both admirable virtues for employees.
D. nor is compliance inferior to engagement.
Management values the creation of A. profit, earnings, and wealth. B. sales, market share, and a long-term innovation strategy. C. maximum shareholder wealth, consistent earnings growth, and a sustainable market presence. D. wealth, customers and a sustainable development advantage. E. profit and sales growth, market share, and sustained innovation.
D. wealth, customers and a sustainable development advantage.
Which one of the following is NOT one of the first five steps of Project? Gather and analyze the facts of the current situation. Develop key resources for the project. Develop possible alternative courses of action. Identify the possible negatives of each alternative. Decide on a basic course of action for the project.
Develop key resources for the project.
Economic growth creates income inequality. Income inequality does increase envy. A. Economic growth is more important to the poor than is economic equality. B. Economic growth is a cause of much of the income inequality. C. Economic growth has stagnated over the last fifteen years. D. Economic inequality is a required condition for economic growth. E. Two of the above answers are correct.
E. Two of the above answers are correct.
"If you work hard and diligently you should be able to detect when a man is talking rot, and that, _____ A. when all is said and done, provides a healthy skepticism needed for progress." B. in the end, is why we are here today." C. for all intents and purposes, is what drives higher education in the twenty-first century." D. for most people, is the key to developing a keen mind for business." E. in my view, is the main, if not the sole, purpose of education."
E. in my view, is the main, if not the sole, purpose of education."
Education is the best long-term, sustainable cure for poverty. Education is a right the private sector and parents need to fulfill. Education is less important than economic growth. Education creates equal opportunity that leads to more equal outcomes. Education helps elevate opportunity, skills, income and hope. Education is expensive but it is a right the government needs to fulfill.
Education helps elevate opportunity, skills, income and hope.
Immigration is not a measure of globalization. It does not cure poverty, nor does it ensure justice. Massive, global immigration is a primary driver of poverty today. Political interests have been able to curb most immigration over the past fifty years. Despite trillions of dollars in foreign aid, India and China still lag well behind developed countries. Foreign aid is an inferior alternative to global wealth creation. Two of the above statements are correct.
Foreign aid is an inferior alternative to global wealth creation.
Below are the four final steps of the Project exercise. Which one does NOT belong? Measure your team's progress toward project goals. Gather and analyze the facts of the situation. Compare individual work to individual objectives. Take corrective action on project and recycle plans. Provide rewards for individual performance.
Gather and analyze the facts of the situation.
One of the oldest measures of national wealth has been the number of people living in a country. Population became outmoded as a measure of wealth with the Industrial Revolution. A consuming population is a drag on an economy, even if it is a productive people. In 2015, China and India comprise about a third of the world's people. The size of a country's population is less important than the economic output of the people. Today, that measure is almost pointless, with foreign travel, immigration and flowing capital
In 2015, China and India comprise about a third of the world's people.
Who said this: if I had my druthers, the ... government would determine every single plot of land, how development would proceed. And there would be very stringent requirements around income levels and rents. That's a world I'd love to see." Senator Hillary Clinton President Barack Obama President Donald Trump New York Mayor Di Blasio Baltimore Mayor Stephanie Rawlings
New York Mayor Di Blasio
Who said this? "recognizes the inequality among men, who are born with different powers of body and mind, inequality in actual possession, also, and holds that the right of property and of ownership, which springs from nature itself, must not be touched and stands inviolate." Adam Smith Pope Leo XIII Pope John Paul II Joseph Stalin Thomas Jefferson
Pope Leo XIII
The driving force behind business action is the development of a sustainable strategy for creating wealth through customers. Which of the following statement(s) is/are correct? Society grows and prospers through the creation of wealth. The poor suffer from the creation of wealth. It's called exploitation. Working people have made little progress in this growth, as financial capital takes precedence. sustainable development is the primary driver of social capital. Two of the above statements are correct.
Society grows and prospers through the creation of wealth.
Hans Rosling lamented that there are people who heat water on fire and cook their food on fire. _______ Sometimes they don't even have enough food, and they live below the poverty line. Housing is a luxury for them. Knowing the source of their next meal is their greatest worry. Education is only a dream. A job is unlikely. Hope for the future is slim. Freedom from fear is not realistic. Fear of losing what little they have is very realistic. Clean water is often a big problem for them. Disposal of waste water does not happen.
Sometimes they don't even have enough food, and they live below the poverty line.
There remains an American Dream. The American dream was never fully realized and we all know this. The difference is with immigration; recent immigrants have a new American Dream. Some cultures are better than others at adapting to the American aspirational culture. The American Dream has always been framed in terms of money, not equality. The original sin of America, slavery, meant some Americans were brutally excluded from it. People view the American Dream based on their past experience, not the future.
The original sin of America, slavery, meant some Americans were brutally excluded from it.
Over time the past one hundred years, there has been a general global increase in freedom, information and wealth. Which of the following statement(s) is/are true? Customers make choices from global markets with an inversion of the traditional power hierarchy. Customers, once the bottom of the hierarchy, are now at the top. Globalization should be a positive process and strategy for both sustainability and sustainable development. Developing countries continue to lag behind the accelerating growth of developed countries. Three of the above statements are true.
Three of the above statements are true.
According to Rosling, there's a discrepancy in what's happening today in the emerging economies. Social benefits and social progress are ahead of economic progress. In 1957 -- the United States had the same economy as Chile has today. The rich continue to prosper but the poor struggle to catch up; there is no middle class. Democracy has caused people to aspire to a better life; their dreams have not been fulfilled. Two of the above are correct.
Two of the above are correct.
Which of the following statements from the Rosling "Debunking third world myths" video is/are true? Most who lived in absolute poverty were Asians. The problem in the world was the poverty in Asia. Relative poverty does not exist in developing countries, as most people are equally poor. Most of the reductions in absolute poverty over the past thirty years have been outside of Asia. Two of the above are correct.
Two of the above are correct.
Identify any correct statements from the notes on wealth. Without intangible wealth, tangible wealth is difficult to produce. Tangible wealth can help generate intangible wealth. Tangible wealth is a complement to intangible wealth. Most of the wealth people find to be important is tangible wealth. Two of the above statements are correct.
Two of the above statements are correct.
In contrast with Wilkinson's claims, the American federal tax system is significantly progressive. The top 1% of wage earners pay 35% of federal income taxes. Use after-tax incomes and after-benefit incomes to better claim inequality in incomes. Social Security taxes are the most progressive form of taxation people face. Capital gains tax rates are high to reduce wealth inequality and to improve health outcomes. Two of the above statements are correct.
Two of the above statements are correct.
hich of the following statements is/are true? GDP ignores key parts of wealth such as health, infant mortality, morbidity, pollution. GDP per capita is the best single indicator of personal well-being in a country. As GDP increases, so does the Gini coefficient. GDP per capita is part of the Human Development Index. Two of the above statements are true.
Two of the above statements are true.
the tragedy of the commons concept relies on a parable describing _____________________ animal reproduction as a model for the local economy. the nature of self-interest in commercial transactions. a fixed amount of wealth, where resources cannot be increased. the general absence of virtue among people pursuing their self-interest. the limits that need to be in place for fishing.
a fixed amount of wealth, where resources cannot be increased.
The public and politicians traditionally viewed business as __________________________, whose primary responsibility is to stockholders. the worst manifestation of capitalism, free trade and globalization a job creation engine with weak or non-existent civic and social responsibilities a profit-maximizing entity that provides goods and services an economic change agent and a primary source for government revenue, i.e., taxation a necessary evil, an environmental concern, and a threat to unions
a profit-maximizing entity that provides goods and services
In 2013, the American government established a(n) ________________; it was $12,119. target budget for a family health insurance plan cap on income for single-parent families to remain on welfare recommended four-person family annual nutritional budget minimum level of spending per pupil in grades K-12 across America absolute poverty threshold for a single person under the age of 65
absolute poverty threshold for a single person under the age of 65
Sweden can show a low Gini coefficient for disposable income of 0.31 thereby appearing equal, yet have very high Gini coefficient for wealth of 0.79 to 0.86 thereby suggesting ________________ an extremely unequal wealth distribution in its society. that cultural differences can explain differences in wealth and income. that the Gini coefficient is not a very effective measure of equality. a decline in worker productivity that comes with the expanding welfare state. the possibility that the Swedish economy is not a sustainable model.
an extremely unequal wealth distribution in its society.
In one hundred years in America, the average number of hours worked annually dropped from between 2000 and 2200 in 1910 to between 1200 and 1400 in 2010. between 2500 and 2800 in 1910 to between 1600 and 1900 in 2010. between 2800 and 3000 in 1910 to between 2000 and 2200 in 2010. between 3000 and 3200 in 1910 to between 2400 and 2600 in 2010. between 3500 and 3800 in 1910 to between 2500 and 2800 in 2010.
between 2500 and 2800 in 1910 to between 1600 and 1900 in 2010.
This class adopts the view of business as the __________________ providing customers with goods, services, information and knowledge. latest evolution of economic competition for extension of markets and free trade for latest stage of economic development for combination of capital to create wealth by assembly of labor, land and capital for
combination of capital to create wealth by
In his TED talk, Niall Ferguson's killer apps include ____________________________________ medicine, democracy and economic freedom. competition, choice, and the scientific revolution. political and economic freedom. the consumer society, technological innovation and democracy. economic freedom, markets, and globalization.
competition, choice, and the scientific revolution.
B.F. Skinner said that __________________________. Reward a person for good work and the good work is likely to be repeated. Apply a punisher to poor behavior and the behavior is likely to decrease. people are mechanistic in their motives behavioral theories developed from studies of animal behavior are irrelevant behavioral theories developed from studies of animal behavior are highly relevant consequences of behavior determine behavior Pavlov misinterpreted the results of his classical conditioning experiments
consequences of behavior determine behavior
In the good country presentation, the speaker asked, "what do we mean by good?" He meant countries that contribute something to the world, countries that actually make the world safer. find the good in people rather than the crime, problems or dysfunctional aspects of society. do a good job of sharing their resources, income and wealth on a wide domestic basis. do an admirable job of transferring resources to poor countries in their time of need. pursue the common good rather than create a culture of greed or personal benefit.
contribute something to the world, countries that actually make the world safer.
How to prevent poverty," named healthy living practices, including clothes, wastewater, nutrition, ____ housing, energy and animals. flies, human waste, and electricity. animals, hygiene, and showers. crowding, dust, and injury. protein, electricity and mortality
crowding, dust, and injury.
The Gini index is a statistical measure of ______________, ranging in value from 0.0 to 1.0. wealth inequality in developing countries income distribution in developed economies dispersion used to indicate the income distribution of a country's residents the concentration of wealth among the richest people in the richest incomes efforts and success in re-distributing income from higher incomes to the poor and middle class
dispersion used to indicate the income distribution of a country's residents
Gross Domestic Product (GDP) is a measure of _______________________ wealth, primarily produced wealth. consumption, primarily agricultural and manufactured goods, plus services. worker productivity on a national scale. economic activity, of exchanges. national income, less national assets consumed, lost or destroyed in a year.
economic activity, of exchanges.
All management values require a balance between effectiveness and efficiency. people and process profit and power. time and money. work performance and job satisfaction
effectiveness and efficiency.
At its heart, capitalism is about applying financial wealth to solve social problems by satisfying customers. maximizing competition to reduce prices to benefit the greater good. entrepreneurship, creatively combining capital to create more capital. making the best use of resources by pooling them in private accounts, away from government. having the stockholder's interest above those of the government, i.e., free markets.
entrepreneurship, creatively combining capital to create more capital.
The Legatum Prosperity sub-indices include ___________________________________ economic growth, income equality, educational access, and diversity. access to higher education, protection of intellectual capital, and technological innovation. personal freedom human rights, entrepreneurship and tolerance. entrepreneurship, education, personal freedom, and social capital. economic growth, political freedom, diversity and multi-culturalism.
entrepreneurship, education, personal freedom, and social capital.
Key leadership behaviors start with articulating and enacting a vision, _________________________ creating incentives, providing job security, and developing new employees. setting standards, communicating results, and offering voluntary feedback. establishing clear goals, and providing positive models. providing meaningful work, developing task options, and empowering teams. keeping people on task and on target, developing new employees, and empowering teams.
establishing clear goals, and providing positive models.
Per Niall Ferguson's TED talk, "It's not the democracy, folks; it's _____________________________" making people happy with products they like and can afford. having the rule of law based on private property rights. the technology and the pleasure it brings to the working man. the freedom to purchase goods rather than have them forced upon you. democratic and economic choice that sets us apart.
having the rule of law based on private property rights.
In Project, lower scores mean higher management aptitude, while a team score _________________ higher than any and all of the personal scores demonstrates ineffective teamwork. will always show an improvement over the best personal score. often reflects the view of the most domineering team member. rarely improves with longer discussion and clearer decision rules.
higher than any and all of the personal scores demonstrates ineffective teamwork.
The primary evolution of the global economy over the past two hundred years has been marked by ________ serious erosions in environmental and political conditions in poor countries. a decline in political freedom in developed countries, as poor countries have prospered. a shift in the concentration of wealth from rich to poorer countries. reduced economic inequality in developed countries. increased economic and political freedom, wealth, and inequality of outcomes.
increased economic and political freedom, wealth, and inequality of outcomes.
Bono cited as obstacles towards the zero percent poverty goal, namely _________________. As sources of momentum towards eliminating poverty, he cited ____________________. corruption and class distinctions; enterprise and persistence inequality and apathy; transparency and innovation racism and homelessness; capitalism and innovation lethargy and indifference; the young and immigrants a lack of resources and a lack of education; Barack Obama and universal health care
inequality and apathy; transparency and innovation
With technology, the return on financial capital surpassed the return on human capital. In other words, financial markets hold greater power in developed countries than in poor countries. the poor will always be at a disadvantage in a global economy, due to a lack of wealth. investments and trade generate higher returns than do labor. it takes money to make money, and labor is at an unfair disadvantage. wealth creation requires financial profits rather than labor productivity.
investments and trade generate higher returns than do labor.
Academics make claims of stark difference between management and leadership. In simple terms, leaders lead people with persuasion; managers move people with coercion. leaders care about people; managers care about the bottom line leadership is more natural; managers must learn their skills. leadership is a subset of management rather than a superior alternative to management. Two of the above are correct.
leadership is a subset of management rather than a superior alternative to management.
The American assertion from the Declaration of Independence - life, liberty and the pursuit of happiness - contrasts with the French motto, which is as follows: life, economy, and respect. liberty, equality, fraternity. society, brotherhood and equality. solidarity, equality and liberty. Two of the above answers are correct.
liberty, equality, fraternity.
The Human Development Index (HDI) is a composite statistic of ______________________________ gross domestic product, infant mortality, and higher education rates. national test scores, gender equality, and wealth inequality. educational achievement, infant mortality, and GDP/capita. the level of degree attainment, infant mortality, and wealth per capita. life expectancy, education, and per-capita GDP.
life expectancy, education, and per-capita GDP.
To avoid poverty, William Galston said do three things: finish high school, _________________________. He noted that only 8% of people who do all three will be poor. get and stay married, and have fewer than three children get a minimum wage job before the age of 21, and marry before having a child, and produce the child after you are 20 years old stay in the job market for at least three years, and get married after starting work. attempt some postsecondary education, and remain debt-free.
marry before having a child, and produce the child after you are 20 years old
Without the wealth generated by capitalism, people would ________________________ have more leisure and less stress in the workplace. not have the time, resources, or incentives to make the arguments for socialism. spend more time with family and on personal interests rather than at work. be too poor to be able to survive. probably riot or rebel against the few people who have all the wealth.
not have the time, resources, or incentives to make the arguments for socialism.
The wealth of a nation can be partitioned into forms of capital, which include all of the following EXCEPT physical or produced capital; human capital natural capital; intellectual property personal capital
personal capital
In "How to prevent poverty," the speaker also said, "Poverty can be overcome and eradicated by the actions of human beings. People are not the problem. The problem, instead, is this: _____________ lack of hygiene, lack of a shower, and lack of opportunity. misinformation, bias, and intolerance. poor living environment, poor housing, and the bugs that do people harm. lack of clean drinking water, lack of access to medicines, and excess heat and dust. healthcare, hygiene, and human development.
poor living environment, poor housing, and the bugs that do people harm.
Capitalism requires the investment of large sums of capital. the aggregation of capital in the hands of a few. private property and exchange. a recognition of the limits to global growth. profit to become subservient to people.
private property and exchange.
The second development exercise showed political themes of wealth-developing countries: __________ human rights, social capital, and progressivism. private property, personal liberty, and contract rights. freedom, choice and cooperation. democratic elections, constitutional authority, and independent courts. constitutional protections, police and courts, minority rights and diversity
private property, personal liberty, and contract rights
The first development exercise identified characteristics of wealth-developing countries, including _______ profit, market, growth, and development. plan, prepare, profit and produce. produce, educate, discriminate, and innovate. privatize, promote, educate and emulate. production, consumption, savings and investment.
produce, educate, discriminate, and innovate.
Per the World Bank, wealth consists of ________________________ people, products, and natural resources. population, produced goods and natural resources. produced goods, intangible assets, and natural resources. tangible assets and natural resources. social capital, intellectual capital and financial capital.
produced goods, intangible assets, and natural resources.
Content theories of motivation focus on a person's internal needs, skills, and drives. Process theories reflect a sequential chain of events or ongoing condition. show that people are primarily driven by intrinsic needs. have surpassed the effectiveness of content theories in explaining motivation. treat people as a collection of internal drives that link together to form behavior. consider the importance of external motivators and downplay intrinsic motivation
reflect a sequential chain of events or ongoing condition.
"How We Got to Now" describes ideas that made modern life possible, namely _______________ autos, air travel, containerization, frozen foods, and air conditioning. electricity, telecommunications, vaccines, air conditioning, central heating, and movies. computers, telescopes, microscopes, aspirin, coal heat and electricity. clean air, freezers, radio, television, and air transport. refrigeration, better hygiene, mastery of light, control of sound, managed time, and sight
refrigeration, better hygiene, mastery of light, control of sound, managed time, and sight
The original Millennium goals focused on eradicating absolute poverty. The United Nations has shifted its attention to ____________________________ climate change, arguing that economic growth has come at the expense of the poor. sustainable economies in developing regions, including protective trade agreements and tariffs. expanding democracy through military intervention in several countries over the last 20 years. curbing the excesses of free markets, capitalism, and entrepreneurship. relative poverty, failing to recognize that strong economic growth helped all income quintiles.
relative poverty, failing to recognize that strong economic growth helped all income quintiles
Which of the following claims from the "Re-think capitalism" video is true? Capitalism has been responsible for every major innovation that's made this world more inspiring. in decline in emerging economies as they centralize governmental power. the root of government corruption under the guise of 'crony capitalism.' the engine of inequality in the world, with the rich alone getting richer. experiencing fierce criticism because of the immense wealth it has generated.
responsible for every major innovation that's made this world more inspiring.
The Good Country Index (GCI) measures a country's global contribution. The elements include: _________ foreign aid, human rights, non-intervention strategies, and charitable giving. foreign aid, international peace-keeping, the United Nations, and propensity to contribute science, prosperity and equality, health and well-being. military, economic strength, free trade, and information technology. personal charity, foreign aid, food relief, democracy building and humanitarian intervention.
science, prosperity and equality, health and well-being.
Rosling's descriptions of "We" (western, developed countries) versus "them" (non-western, poorer countries) meant small families, long lives versus large families, short lives, or rich versus poor countries. Judeo-Christian values versus eastern religion and philosophies. western hemisphere economies versus eastern hemisphere economies. southern hemisphere cultures and northern hemisphere cultures. economies in moderate climates versus economies in tropical clima
small families, long lives versus large families, short lives, or rich versus poor countries.
Simply put, capitalists create, entrepreneurs innovate, bureaucrats regulate and politicians equivocate. socialists congregate and regulators eliminate. communists regulate and anarchists celebrate. socialists distribute and communists appropriate. politicians ruminate and economists speculate.
socialists distribute and communists appropriate.
Margaret Thatcher said, "The problem with socialism is ________________________ that poverty is a character defect." that while capitalism produces unevenly shared benefits, socialism provides shared misery." when a bureaucrat gets to decide what is best for you." rejects the notion of self-interest as a virtue." that sooner or later you run out of other people's money."
that sooner or later you run out of other people's money."
Rather than the need to 're-think' capitalism, the problem is often one of the absence of capitalism, when markets and people are not free. socialism disguised as faux capitalism, where a few, politically connected parties benefit. people being unwilling or unable to adapt to the demands of a competitive, capitalistic economy. expansive welfare benefits that decrease the incentive for personal initiative and success. unfair and unethical practices in cotton trading among speculators.
the absence of capitalism, when markets and people are not free.
Per "When ideas have sex," the average per-capita income of __________________, in real terms, adjusted for inflation, has tripled. the typical American the average European the average person on the planet a worker in India or China manufacturing workers in China
the average person on the planet
Students need to appreciate the concept of wealth, the importance of wealth, and the misunderstanding of wealth accumulation as a goal. the need to widely distribute wealth to support democratic institutions. strong economic growth as being the sole source of wealth. the fact that many people have too little wealth to have a role in the economy. the need for wealth to create more wealth, and the negative role of debt in wealth creation.
the misunderstanding of wealth accumulation as a goal.
Contrary to Bono's claim, income inequality is likely to be _____________ the result of the economic growth that reduces absolute or extreme poverty. with us until the end of time, if only due to human indifference towards others. solved with continued economic growth, as a rising tide lifts all boats. left to later generations to resolve; the world is too full of discourse today. the one thing that human nature and behavior cannot fix
the result of the economic growth that reduces absolute or extreme poverty
Stacy Adams found that a desire for equity motivates. Faced with a situation perceived to be unfair or inequitable, a person will be motivated to change _________________________________ employers, location and work efforts. jobs, attitudes and their standards of performance. his or her expectations about his or her future on the job at this company. his or her attitude towards work, life and career options. the situation, his or her expectations, or his or her perception of the situation
the situation, his or her expectations, or his or her perception of the situation
While health outcomes inequalities are a form of injustice, it is not clear that people care a great deal about health issues, at least in terms of maintaining their health. these differences are caused by income inequalities. more expenditures on medical care produces a longer life expectancy. healthcare insurance, medical expenditures and well-being are closely related. reduced infant mortality rates lead to longer life expectancies.
these differences are caused by income inequalities.
Matt Ridley says, what we've done in human society, ______________ is create the ability to do things that we don't even understand. because of economic growth and human development, through exchange and specialization, through capitalism and trade, besides increase economic and political freedom, with developments over the past two hundred years,
through exchange and specialization,
The Social Progress Index begins by defining what it means to be a good society, with a measure based around three major dimensions. to expand human rights to minority groups and disenfranchised ethnic groups. to reduce national rates of corruption, lawlessness and crime. to provide people with the basic social capital they need to make economic progress. to create a more positive, inclusive social culture for the disadvantaged.
to be a good society, with a measure based around three major dimensions.
Cardinal Peter Turkson said: "Businesses .... products and services, the jobs they provide, and the economic and social surplus they make available to society, are foundational ______________________ to the good life of a nation and of humanity as a whole." to a sustainable, meaningful spiritual life." to helping those most in need to emerge from the bottom of the economic pyramid." to making the message of the gospel meaningful to the poor." to finding education, healthcare, and a cleaner environment...for all people."
to the good life of a nation and of humanity as a whole."
Look back two hundred years and the dilemma is clear: 94% of the world's one billion people live in absolute poverty. Wealth was almost a surreal concept for all but the world's one percent, and people had no idea as to what it meant to be wealthy, so they did not try to improve. most of the world's poor continue to be poor while only the rich grew wealthier. wealth was mostly natural wealth, limited and hoarded whenever possible. inequality only began to decrease after a burst of wealth creation in the nineteenth century. what little wealth there was required heavy taxation to re-distribute it.
wealth was mostly natural wealth, limited and hoarded whenever possible.
The construction of the social progress index, using measures of social capital wealth, reflects _________ the conditions of socialist economies in the western hemisphere. western or European beliefs, values, and culture. great progress made in less developed countries over the past thirty years. a broad selection of indices of human capital development in the social sphere. the need to replace economic measure of well-being with measures of social capital.
western or European beliefs, values, and culture.
A leading theory in the eighteenth century was that population __________, producing dire circumstances. declined in times of major wars would increase faster than food production could increase was reduced by major conflicts that killed many productive people increases put a strain on the natural environment would grow and reduce people's willingness and ability to share and cooperate
would increase faster than food production could increase