pol

As capitalism develops, it _________ opportunities for small industrialists to grow and prosper. a.increases b.decreases c.has little effect on d.causes workers to join with the

decreases

In the original position, what motivates people to adopt rules that are just? a. Desire that everyone have an opportunity to obtain riches b. Empathy towards others c. Calculation that just rules will lead to the greatest good for all d. Desire to avoid being destitute

desire to avoid being destitute

The law of ___________ is associated with increased productivity. a.diminishing returns b.supply and demand c.monetarism d.division of labor

division of labor

In the original position of Rawls, humans ________ take into consideration the interests of others in society. a. do b. do not

do not

In the original position, each person: a. Knows his position in society, but not the position of anyone else b. Does not know his position in society or the position of anyone else c. Thinks he knows his position in society, but really does not d. Thinks he knows the position in society of everyone else, but really does not

does not know his position in society or the position of anyone else

The "veil of ignorance" of Rawls, occurs _________ the original position. a. During (within) b. After (outside)

during (within)

The subject area that most interests Karl Marx is: a.Relations between citizens and government b.Property rights c.Individual rights d.Economic relations

economic relations

According to Marx and Engels, abolition of private property tends to: a.increase its price b.decrease its price c.hurt the working class d.eliminate its class character

eliminate its class character

An indispensable component of Rawls' concept of justice is: a. Equality in everything b. Market economics c. Redistribution of incomes d. Fairness

fairness

A fair reading of Marx and Engels would conclude that they admire petty bourgeoisie socialism. a.True b.False

false

According to Marx and Engels, class struggle is a new concept unique to developed capitalism. a.True b.False

false

According to Marx and Engels, the bourgeoisie historically have been reactionary and not themselves revolutionary in any sense. a.True b.False

false

According to Marx, the greater the division of labor in an industry, the more skilled the workers become. a.True b.False

false

According to Nozick's idea of distributive justice, the "from" in distribution can be conceived separately from the "to." a.True b. False

false

An accurate reading of Smith would conclude that he favors a high level of government regulation of the economy. a.True b.False

false

An accurate reading of Smith would conclude that he favors small single-owner shops to large companies. a.True b.False

false

As envisioned by Marx and Engels, immediately after a successful revolt by the proletariat, society would be transformed into a classless form of communism that did not require the state (government). a.True b.False

false

Basic rights that are part of the "first principle" can, according to Rawls, be compromised whenever necessary to obtain greater social and economic advantage for society. a. True b. False

false

Friedman believes that the progressive income tax has been an effective tool in lowering long-run wealth inequalities in the United States. a.True b.False

false

Friedman believed in a ___________ government intervention in the economy. a.Minimalist b.Robust

minimalist

Which of the following represents something emphasized more by Smith than Locke? a.The importance of government b.The social contract c.Humans in a state of nature d.Money

money

According to Marx, capitalism leads to ____________ division of labor. a.less b.more c.neither more nor less d.disruption in the

more

The capitalist system, according to Marx leads to ____________ competition between workers. a.less b.more

more

Which of the following is a public good justifying government regulation according to Friedman?a.National Defense b.Interstate shipping fares c.Airline fares d.Salaries of sports stars

national defense

The "difference principle" has to do with: a. Equality of political rights b. Equal opportunity to succeed in life c. Redress of inequalities d. Bringing about racial harmony

redress of inequalities

Under capitalism, according to Marx, wages of workers _______________. a.tend to increase substantially as the economy grows b.trend towards subsistence levels c.are transformed into monthly salaries d.become less important to workers

trend towards subsistence levels

Friedman can properly be described as libertarian. a.True b.False

true

Nozick believes that a distribution is just if it arises from another just distribution by legitimate means. a. True b. False

true

Nozick's conception of justice argues for a minimally intrusive state. a. True b. False

true

The society envisioned by Rawls is likely to have more equality of incomes than a utilitarian society. a. True b. False

true

Who of the following would Friedman most agree with? a.Karl Marx b.Friedrich Hayek c.John Maynard Keynes d.Friedrich Engels

Friedrich Hayak

Nozick's conception of justice is closest to which of the following persons?a.Marx b.Rawls c.Hobbes d.Hayek

Hayek

Which of the following words is most associated with Nozick's conception of justice?a.Acquisition b.Welfare c.Surplus value d.Reparations

acquisition

According to Friedman, a tariff on imports is: a.A good thing because it protects American producers from unfair competition b.A bad thing because it redistributes wealth from a wide swath of consumers to a narrow swath of American producers and employees who work for them

a bad thing because it redistributes wealth from a wide swath of consumers to a narrow swath of American producers and employees who work for them

The best way of thinking of the original position is as a: a.constitutional convention b.a forum for the exchange of ideas c.a hypothetical situation that helps us conceive of justice d.something that every society should convene

a hypothetical situation that helps us conceive of justice

At what stage do Marx and Engels seem to argue would be the best point for the proletariat to rise up in revolution? a.During feudalism, even before the bourgeoisie have a chance to emerge b.If and only when liberal reformers have been unable to transform capitalism peacefully c.After the emergence of the bourgeoisie and capitalism d.Never, because they are in favor of peaceful reform, not revolution

after the emergence of the bourgeoisie and capitalism

Marx believed that the interests of the working and capital classes were: a.aligned b.antagonistic c.of little importance d.getting closer as economies became more industrialized

antagonistic

According to Marx, profits and wages ____________. a.are in inverse proportion to the other b.complement the other c.increase at the same rate as capital increases d.become stagnated as capital increases

are in inverse proportion to the other

Adam Smith is most associated with which of the following: a.Socialism b.Capitalism c.Progressivism d.Humanism

capitalism

Which of the following terms best describes Friedman?a.Classical liberal b.Modern Liberal

classical liberal

According to Marx, when the worker becomes alienated from his labor, his labor becomes _____________. a.a commodity b.more valuable to him c.only an abstraction d.less specialized

commodity

Marx and Engels were skeptical of the Communists of their day because they were intellectuals and Marx and Engels felt strongly that the workers alone, without help from others, needed to take up their cause against the capitalists. a.True b.False

false

Marx believes that capitalism is a very inefficient system of economic production. a.True b.False

false

Nozick believed in minimal regulation of acquisition of wealth but high-level regulation of transfer of wealth. a.True b. False

false

Nozick believed that Wilt Chamberlain was paid too much for his services as a basketball player. a.True b. False

false

Rawls believes that society is best governed where natural talent of all kinds is rewarded to the maximum possible. a. True b. False

false

Smith believed in an "inherent value" of a commodity independent of the amount of labor required to produce the commodity. a.True b.False

false

Smith believed that education was only of value to workers in high-skilled occupations. a.True b.False

false

Smith believes that owners of industry are so rich and powerful that they can force ordinary workers to work at any wage they want, even if the wage is less than necessary for the worker to survive. a.True b.False

false

Nozick seems to ______ capitalism. a.Favor b. Disfavor

favor

Friedman favors which of the following? a.A moderately progressive income tax b.A steeply progressive income tax c.A flat income tax d.Sharply increased tariffs on imports

flat income tax

The assigned reading by Milton Friedman indicates that Friedman is most interested in which of the following? a.The most effective means to reach economic growth and development b.The best way to redistribute wealth to the poor c.Freedom d.Marxism

freedom

Which of the following best describes something emphasized more in The Communist Manifesto as compared to the other works of Marx we took up in earlier class sessions? a.Antagonisms of class b.Destructive power of capitalism c.Plight of the working class d.Global reach of capitalism

global reach of capitalism

Which of the following words is most associated with Nozick's conception of justice? a.Equality b.Fairness c.Holdings d.Redistribution

holdings

According to Marx and Engels, crowding workers close together in factories tends to ____________ the power of the working class to revolt against the capitalist class. a.Increase b.decrease

increase

Which of following seems to apply to Marx and Engels?a.German nationalists b.Social reformers c.Proletariats d.Internationalists

internationalists

Which of the following viewpoints is closest to Nozick's conception of justice?a.Libertarian b.Social conservative c.Modern liberal/progressive d.Socialist

libertarian

What is an important value of division of labor? a.Reduces start-up time for conducting various stages of labor necessary for completion of a final product. b.Provides each worker with a greater sense of pride for his/her contribution to the final product c.Protects small family-owned firms from being forced out of business by large manufacturing companies. d.Prevents workers in traditional occupations from being replaced by machines.

reduces start up time for conducting various stages of labor necessary for completion of final project

Which of the following presents a technical (or natural) monopoly situation of the sort that Friedman says justifies government intervention?a.Daily newspaper delivery b.Grocery stores c.Residential sewer service d.Wireless internet service

residential sewer service

Nozick's conception of distributive justice is closest to the following: To each according to ______. a.His/her need b.His/her moral merit c.His/her effort d.The extent that he/she is chosen

the extent that he/she is chosen

According to Smith, a market where supply of a good or service is greater than demand: a.Is a natural phenomenon and will persist over time b.Normally will only persist for a short time as price will decrease to meet demand c.Is not possible in a market economy d.Is a reason to support government control of markets

will only persist for a short time as price will decrease to meet demand