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