Professional Documents
Culture Documents
a) 64 percent
b) 86 percent
c) 47 percent
d) 66 percent
2. What material symbol defines what is important in life for most people in Europe and
the United States?
19
Answer: d [p. 88]
20
5. What percentage of money circulating in the United States exists as bills and coins?
a) 45 to 50 percent
b) 5 to 10 percent
c) 75 percent
d) 25 to 30 percent
8. How are objects and activities transformed into commodities in a modern market
economy?
a) Through laws
b) Through social norms and values
c) Through rules and regulations
d) All of the above
21
9. According to Robert Putnam, the main reason for a decline in social capital in the
United States is
10. Much of the economic growth in core countries over the past fifty years is a result of
what key process?
11. According to Karl Polanyi, what has been one of the major historical issues since the
nineteenth century?
22
13. Why, without the intervention of the nation-state, would the price of a Twinkie be
$10 or more?
15. Seventeen percent of all calories consumed by North Americans come from
a) 25
b) 45
c) 65
d) 85
23
18. How can governments avoid responsibility for domestic environmental concerns?
a) Displace regulatory power onto global governance institutions such as the WTO
b) Remove all regulations on corporate practices
c) Curtail press freedoms
d) Encourage global activism
19. According to the author, what contributed to the rise of the Iraqi insurgency following
the 2003 U.S. invasion?
22. According to Aiwa Ong, what is the main focus in American higher education today?
24
23. "WTO" stands for
True/False Questions
1. For most people in the United States, money is the main means by which they can get
what they need and want.
25
4. To maintain the growth of the money supply, the output of goods and services needs
to constantly increase.
5. People in debt, such as those with student loans, benefit from inflation.
6. Some large corporations have annual revenues greater than many countries G.N.P.
7. There is general agreement across cultural lines on what can and cannot be sold in
markets.
10. Neoliberals generally argue that state intervention in economic activity should be
eliminated.
12. Free trade is often simply a way for corporations to pressure nation-states to relax
health, labor, and environmental standards.
26
13. In the 20th Century, nation-states killed close to 200 million of their own citizens.
14. The shift to neoliberal economic policies in the United States has seen a revival of
citizen involvement in social, labor, religious, and volunteer organizations.
3. Describe the idea of hidden costs using a Twinkie as an example. [p. 101]
4. Describe the hidden costs in the production of computer monitors. [p. 101]
5. Describe some of the reasons why Europeans are particularly sensitive to health
threats in meat. [p. 102]
6. How does the WTO ensure free trade between nations? [p. 105]
7. How has sugar impacted the environments in which it is grown? [p. 101]
8. Name three activities that have been transformed from social capital into market
services during your lifetime. [pp. 95-96]
10. Explain why a market economy requires constant increases in productivity. [p. 88]
Essay Questions
1. What is the difference between paper money and credit money? [pp. 88-89]
2. Why does different access to wealth and resources create social stratification? [pp. 91-
92]
27
3. Explain how global institutions such as the WTO can limit environmental safeguards
imposed by elected governments. [p. 105]
4. How have large multinational corporations been able to use their power to influence
nation-states to look out for their interests? [pp. 107-108]
5. How might rulings of the World Trade Organization (WTO) undermine health, labor,
and environmental conditions? [p. 105]
6. Explain the statement, "nation-building is nothing but a blueprint for ethnocide at best
and genocide at worst." [p. 112]
28