SOCI 1251 Revel Chapter 12 Quiz Questions

The federal minimum wage in 2018 was __________.

$7.25 an hour

Approximately how many workers earn the minimum wage or less?

1.2 million workers

Which of the following best characterizes persons earning the federal minimum wage or less?

A white woman who works part-time and is age 25 and over

How much worry do people have today about top financial concerns such as retirement, unexpected medical costs, or maintaining a standard of live, as compared to before the recession in 2007?

About the same

Jack works for the U.S. Department of Labor and has been asked by his supervisor to summarize the mood of Americans toward the economy since the recession. Which of the following statements best reflects that mood?

Americans feel that the economy has improved since the recession, and the number of people who feel that they may lose their job or be laid off in the next 12 months has decreased.

Which of the following statements about minimum wage is TRUE?

At its high point in 1968, the federal minimum wage was equal to 25 percent more than it is today.

Which racial or ethnic group has the highest rate of unemployment?

Blacks

What is the name of the economic system in which the means of production (e.g., capital) are collectively owned, and the central government determines the flow of goods and services?

Communism

Which of the following would most likely prefer contingent nonstandardized work?

David, a single professional who values his freedom

Although the U.S. post-recession economy remains by many measures the strongest on Earth, its institutions are undergoing rapid and dramatic changes. Which of the following is NOT one of these trends?

Growth in service-sector and manufacturing jobs in advanced economies

Which comparison of the ways that the United States and many European countries deal with the catch-22 of inflexible full-time work or part-time penalty is TRUE?

In the United States, part-time work often does not provide benefits; in many European countries, part-time jobs do provide benefits.

What is the term used when only the assets of the corporation are liable to seizure in the case of economic failure or wrongdoing, and the entrepreneur's personal assets are not liable if the corporation fails?

Limited liability

Which of the following represent the most dangerous occupational categories?

Logging, fishing, and aircraft piloting

Which of the following is LEAST likely an example of the effects of a consumer society on aspects of our lives?

Lower occupational health and safety

Compared to the height of the recession in 2010, how concerned are Americans about losing their job?

Much less concerned

Chelsea works at a large corporation in New York, but it has subsidiaries and pursues business activities and profits in several other countries across Asia. What is the best description of the type of corporation Chelsea works for?

Multinational corporation

Why have critics of U.S. multinationals been especially vocal in condemning outsourcing?

Outsourcing reduces the number of jobs available for American workers.

Which of the following statements about employer-provided job benefits is TRUE?

Overall, worker and family benefits are on the wane, even as the economy has improved.

If so many married women want to work part-time, why do they continue to work full-time?

Part-time workers earn less pay and are less likely to have fringe benefits.

Personal bankruptcies peaked several years after the recession. Why did bankruptcies continue for so long?

People tend to hold out financially as long as possible because of the significant stigma and consequences of bankruptcy.

Which of the following groups are more likely to perceive that the threats to jobs over the next decade are due to immigration and offshoring rather than to new technologies?

Republicans

What is/are Americans' top financial concern(s)?

Retirement and unexpected medical costs

What is a common way that employers circumvent the 1963 Equal Pay Act?

Some employers give highly similar jobs a different title, classification, and pay scale.

Opponents of raising the minimum wage argue that if the cost of low-wage labor rises, employers will lay off workers and hire fewer workers in the future. What does a review of over 60 studies suggest?

Some studies found a small negative effect on employment, some found a small positive effect, and most found no significant effect at all.

Which of the following is a more likely consequence of a 24/7 economy?

The boundaries between work and family are blurring.

Dirk is having difficulty finding a job that provides an employer-sponsored retirement plan, health care benefits, paid sick leave, and paid holidays. Without these, it is difficult to support his family. What does this situation represent?

The decline of "good jobs"

Which of the following statements about occupational health and safety is TRUE?

The field of occupational health has widened its focus to include illnesses as well as accidents.

If the economy has improved significantly by objective measures since the recession, why is it that people still consider the economy to be the second most serious social problems?

There has been an increase in debt.

What has happened to unemployment rates since the recession?

Unemployment rates have been cut by more than half.

Union membership has been declining in the United States. Union membership has several consequences. Which of the following is NOT one of these consequences?

Unions help male workers obtain higher pay, but do less for female workers.

The "mom and pop" neighborhood grocery store owned by Mr. and Mrs. Gonzales can no longer compete with the large grocery store chain that opened up nearby. Consequently, their store is going out of business. This situation is one of the drawbacks of __________.

a consumer society

A consumer society requires __________.

a large middle and upper class with enough leisure time to enjoy the use of many goods and services that are not strictly necessary

Katsuo was discussing with his Japanese friends the American free enterprise system, which is characterized by private ownership of the means of production. Katsuo and his friends were talking about an economic system known as __________.

capitalism

Large-scale production of consumer goods depends on a steady flow of profits, which in turn requires that purchases be made constantly, not just whenever the consumer has a windfall or can accumulate enough through savings—hence the widespread use of __________.

consumer credit

Gretchen loves to shop. She works part-time while attending school so that she can buy new clothes on a regular basis. When she does not have the cash for her purchases, she will use her credit card. She gets new ideas for things to purchase from the advertisements she sees on the Internet and from the magazines she reads. Gretchen lives in a __________.

consumer society

Abbey is a young mother who works in the fast food industry. She does not have a set number of hours per week. In addition, sometimes she works a night shift, and other times she works a day shift. She often gets sent home when work is slow and is not paid, even though she told her boss she would like to work full-time. Her job is an example of __________.

contingent nonstandard work

The switch away from manufacturing jobs to a service-oriented economy has led to a(n) __________.

decline in unions

The percentage of people who classify themselves as "upper-middle" or "middle" class has __________ since 2008, immediately before the recession.

declined

Compared with the height of the recession in 2009, the percentage of adults in a 2018 Gallup Poll who consider the economy the most serious problem facing America has __________.

decreased substantially

Another term for tariffs is __________.

import taxes

Since the recession, there has been a decline in "good jobs," which, according to the text, usually refers to __________.

jobs that provide employer-sponsored retirement plans, health care benefits, paid sick leave, and paid holidays

Song Lui works at a factory in southern China that makes sunglasses that are sold all over the world. The factory has its headquarters in Los Angeles, but has subsidiaries in China and India. This arrangement is an example of a __________.

multinational corporation

Locating businesses that produce goods for American markets in poor, developing nations where the firm can take advantage of lower wage rates and fewer environmental restrictions is called __________.

outsourcing

Sajel lives in India and works for a call center that has a headquarters in Minneapolis. Her job is to answer the telephones and help customers with technology problems they may be having. This work situation is an example of __________.

outsourcing

Many parents in the United States scramble because of the lack of paid maternity leaves, the high cost of childcare, the low number of subsidized preschool slots, extended summer vacations from school, and the limited availability of part-time jobs with benefits that would allow families to more easily combine work and family. These social problems occur primarily because __________.

policies and programs have not kept pace with the changing social structure

The central social institutions of capitalism are markets, which __________.

regulate the worldwide flow of an extensive array of goods and services

As manufacturing jobs have declined over the past generation, jobs in what sector(s) have increased?

service and sales

Anika lives in Bangladesh and works in the garment industry. Her workspace is very crowded and hot, and there are no windows for ventilation. She has few breaks during the day and sits hunched over a sewing machine for 13 hours per day. Her working environment is an example of a(n) __________.

sweatshop