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15) It is a well-known fact that the United States ranks equally well on standard social measures
and standard economic measures.
16) Taking the privatization movement a step further, state and local governments are selling or
leasing existing roads to private companies.
17) Privatization often brings substantially reduced costs and improved expertise.
18) China's reliance on cheap labor to drive its economy remains unchallenged as other nations
are unable to undercut the Chinese advantage.
19) From the critics' point of view, extravagant wealth, side-by-side with punishing poverty, is
perhaps the greatest disappointment and injustice in the global advance of capitalist principles.
20) In the context of capitalism in America, which of the following most likely led the
government to curb the power of big business?
A) Lack of natural resources
B) Emergence of monopolistic abuse
C) Lack of private property rights
D) Poor foundation of personal freedom
21) ________ in the United States, Japan, Denmark, and other nations favors business to create
wealth and government to regulate as needed.
A) Regional socialism
B) State capitalism
C) Religious socialism
D) Democratic capitalism
22) ________ in countries such as Russia, China, and Saudi Arabia employs the market to build
wealth, which, in turn, is controlled and distributed by the state for its political purposes.
A) State capitalism
B) Democratic capitalism
C) Regional socialism
D) Religious socialism
23) All the following countries have a communist form of government except
A) Cuba.
B) North Korea.
C) China.
D) South Korea.
24) ________ was particularly concerned about the growing imbalance between rich and poor
and felt that the pursuit of wealth and self-interest would erode society's moral core.
A) Ayn Rand
B) Bo Xilai
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C) Anatole Kaletsky
D) Karl Marx
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25) Democratic governments and peaceful change are often associated with ________.
A) strong centralized governments
B) communism
C) economic individualism
D) socialism
29) Which of the following is true of Robert Putnam's observations on social capital?
A) Putnam observed that the practice of free market principles is essential for a moral life.
B) Putnam observed that a sharp rise was seen in league bowling from 1980 to 2000 although the
number of bowlers decreased by about 10 percent.
C) Putnam observed that virtually every measure of social interaction fell significantly from
roughly 1975 to 2000.
D) Putnam observed that only three categories of government were necessary: the police, the
armed services, and the law courts.
30) Identify the underlying reason why socialists advocate income supports, free education, free
health care, generous sick pay, and family planning.
A) Socialists believe that the economy must be directed toward the general interest of society
rather than left free to multiply the welfare of successful capitalists.
B) Socialists seek an excessively individualistic approach to life where the communitarian
approach of capitalism is muted by a concern for the welfare of all.
C) Socialists believe that communism harshly restrains individual freedom and creates a society
based on unrestrained pursuit of industrial growth.
D) Socialists seek to embrace totalitarianism while calling for aggressive government
intervention.
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