Cultural values in the United States place emphasis on ________.
a. the importance of democratic decision making
b. government rights to control the destiny of the people
c. collectivistic and public ownership of properties
d. the importance of unequal concentration of power and wealth
Which of the following responsibilities was given to the central government of the United States during the formation of the new Constitution post independence?
a. raising an army
b. regulating banks
c. providing healthcare facilities to its citizens
d. overseeing the allocation of resources
An oligopoly is different from a monopoly in that an oligopoly is characterized by the ________.
a. control of a market by few companies
b. multinational nature of the companies involved
c. complete domination of some markets by a company
d. control of a market by a conglomerate
A(n) ________ is a corporation that owns other companies in fields quite different from that of the parent company
a. anomie
b. in-group
c. monopsony
d. conglomerate
The term oriental is
a. an accurate label for Asian people.
b. an accurate racial category.
c. a racial category arising primarily in popular culture.
d. an attempt in the United States to identify all Asian American citizens equal in status to other Americans.
Popular culture is described in Lee's essay as
a. arising out of conflict; a dynamic contest.
b. dominated by an economic and political elite.
c. basically religious.
d. the same as dominant culture.
The purpose of Lee's essay is to describe how real Americans
a. are defined in the law.
b. are defined in popular culture.
c. think and act.
d. are socialized.
A form of restrictive growth in the marketplace in which one company controls a product or service is known as ________.
a. oligopsony
b. monopoly
c. monopsony
d. duopoly
A ________ is a business enterprise that is owned by stockholders, most of whom are not involved in running the daily affairs of the business.
a. proprietorship
b. corporation
c. law firm
d. social institution
The country of Renada follows capitalism. Which of the following problems is it most likely to face due to its economic system?
a. exploitation of workers by factory owners to increase their own profits
b. the absence of a variety of quality products for consumers to choose from
c. losses incurred by private owners due to the greater role played by the government in making economic decisions
d. the inability of manufacturers to meet specific customer needs due to the pressure to achieve collective goals
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