Wright and Rogers Chapter 2

Question 1

In our society what does it mean to say we have a high level of Technological Development?

Answer 1

The techniques we use to produce things are highly productive: Fewer inputs required for the amount of output in relation to the past.

Question 2

What is an example of High productivity and technological development?

Answer 2

Less than 3 percent of the labor force works in agriculture to provide food for the 300 million people

Question 3

What does a Post-Industrial society mean really for humans?

Answer 3

They are now producing services, not physical things.

Question 4

What is the economy when we talk about it?

Answer 4

All the ways people produce the goods and services consumed in a society.

Question 5

What kind of economy does the US have?

Answer 5

A type of capitalism, dominated by Gigantic Organizations, with Weak Unions, Weakly regulated markets that exist in an increasingly globalized system of economic interactions.

Question 6

What three things make a Capitalist economy, and does the US have one?

Answer 6

Markets for exchange, Private ownership and control of investment, and Markets for labor. Yes.

Question 7

What are Markets for exchange?

Answer 7

Production is organized for market rather than immediate use by producers. IE Food on a farm V. Family garden.

Question 8

What does Private ownership and control of investment mean?

Answer 8

Firms that organize production are owned privately V. owned by a public body like the state. They also control their investments which is allocated for future economic activity.

Question 9

What are Markets for labor?

Answer 9

The people who work in firms are hired from a labor market to work in firms as employees

Question 10

If firms are owned by employees is that a form of capitalism?

Answer 10

No. that is more of a noncapitalist firm working within capitalism

Question 11

United states capitalism is dominated by huge megacorprations. T/F?

Answer 11

True.

Question 12

T/F? The top ten US firms in the fortune magazine list of 500 largest firms had combined revenues of over 2.2 trillion?

Answer 12

True

Question 13

If these ten firms were a country where would they rank in relation to the worlds toip economies?

Answer 13

8th.

Question 14

T/F? America’s top ten organizations each individually had revenues in 2012 less than the combined income of the 134 million people living in the 48 poorest countries in the world

Answer 14

False they did. Exxon mobil alone had revenues greater than the combined income of 345 million people in the world’s 75 poorest countries

Question 15

T/F The united states has one of the greatest labor movements of any developed capitalist country?

Answer 15

False they have among the weakest.

Question 16

What is a labor union?

Answer 16

an association people form to bargain more effectively with employers and in other ways collectively pursue their interests.

Question 17

Why are Labor unions strong?

Answer 17

Because they develop collective power. a firm may not need one employee but it does need all of it’s employees.

Question 18

What happens as a result of US labor unions being so weak?

Answer 18

Labor markets are less regulated and involve more competition. As well as American workers have fewer rights.

Question 19

What are some rights that are not given to American workers?

Answer 19

Parental leaves and Right to strike.

Question 20

What are Parental leaves? and how are they weak in the labor market?

Answer 20

They are leaves given to parents when a child is born. They are weak though because workers do not receive paid leave when this happens.

Question 21

What is right to strike and how is it not implemented in the US?

Answer 21

RTS=Right to strike, however in the US the employee has the right to hire a temporary replacement in this situation but in other countries they have a right to their job when they come back.

Question 22

What are some examples of how the US economy is not well regulated in relation to labor markets?

Answer 22

Employers have will to fire and hire employees freely, minimum wage is low and provides no real protection for workers, and GOV regulation of training and skills is minimal.

Question 23

What is the percentage of Public employment in relation to the labor force in the US?

Answer 23

15 percent, and most is at the local government level.

Question 24

What percentage of Civilian spending was put towards nonmilitary spending in 2012?

Answer 24

about 34.5 percent which in turn is among the lowest levels of all economically developed countries.

Question 25

Is the United states a highly taxed economy?

Answer 25

No. The tax burden compared to the GDP in 2013 was just 25% compared to 35+% in European countries.

Question 26

The integration into the worlds economies can be seen from what vantage points?

Answer 26

Trade, Production, and Ownership.

Question 27

In relation to the US and Globalization, what is Trade?

Answer 27

How much imports plus exports equal in relation to the GNP. in WW1- 1960= 10% Now in the 21st century it equals about 25%

Question 28

What is cause for the major change in imports and exports for the US?

Answer 28

American Firms are now involved in intense competitions with firms in other countries?

Question 29

In relation to Globalization, what does Production mean?

Answer 29

Production requires materials and components that are manufactured in companies from all over the world.

Question 30

What does a global factory mean?

Answer 30

Raw materials come from some place, Parts made from those materials come from another, and they’re assembled in a different place.

Question 31

In relation to Globalization, what does Ownership mean?

Answer 31

Many corporations have operations in other countries which export goods to the US as well as other places but which economy is it apart of?

Question 32

What does Winner take all mean?

Answer 32

Each candidate is elected from a district in which one candidate wins

Question 33

What does Federalism Mean?

Answer 33

NaTIONAL POWER IS EXPLICITLY SHARED WITH SUBNATIONAL UNITS OF GOVERNMENTS CALLED STATES.

Question 34

The US has a Divided Government, but what exactly is that?

Answer 34

One that assigns clear and separate constitutional bases for power to its legislative, executive, and judicial branches.

Question 35

What’s a big difference in the power that leads the country in the US Vs other states?

Answer 35

It’s presidential, not parliamentary.

Question 36

What is parliamentary and how does it differ?

Answer 36

Head of state andhead of gov are sperated. Dominant group in legislature elects head rather than citizens

Question 37

How much does the US spend on its military compared to other countries?

Answer 37

Ten times as much.

Question 38

Is the US economy deeply integrated with the production of military goods?

Answer 38

Yes. both for it’s use and for export.

Question 39

What are some major terms that define American culture?

Answer 39

Pluralism and tolerance, Individualism, Religiosity, and Commercialism and consumerism.

Question 40

In relation to violence, what are some main terms that represent what a US society is like inrelation to this question?

Answer 40

Gun murders, Homicide, Prisons, Death Penalty, and Police Presence.

Question 41

In relation to Violence and repressive control how does Gun Murders represent a US society

Answer 41

There were at least 31 gun murders a day in the us in 2011, while there were only 38 a year for great britain

Question 42

In relation to Violence and repressive control how does Homicide represent a US society

Answer 42

The second leading cause of death among 15-24 and eading cause of death for black males aged 15-34

Question 43

In relation to Violence and repressive control how do Prisons represent a US society

Answer 43

in the US in 2011 there were 76 prisoners or every 100,00 people but US ony has 5 percent of worlds pop but 24 percent of the worlds prisons population

Question 44

In relation to Violence and repressive control how does The Death Penalty represent a US society

Answer 44

Only economically developed country besides south korea and japan to still have death penalty

Question 45

In relation to Violence and repressive control how does Police Presence represent a US society

Answer 45

in 2012 the US had almost 1.7 million police and security gaurds representing over 1 percent of the labor force.

Question 46

In relation to US culture how does Pluralism and Tolerance describe the US?

Answer 46

There are may subcultures, and peope are tolerant tot this.; IE Nascar fans, amish communities, sothern traditionalist.

Question 47

In relation to US culture how does Individualism describe the US?

Answer 47

individual autonomy and freedom are key, and a persons fate is decided by themselves

Question 48

In relation to US culture how does Commercialism and Consumerism describe the US?

Answer 48

Americans save less and buy more than any other country. Success in the market indicates high class.

Question 49

In relation to US culture how does Religiosity describe the US?

Answer 49

Americans are among the most religious in theworld at least in church attendence and beliefs.