Soc Chapter 14

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________ trade agreements, such as NAFTA, encourage business at a regional or worldwide level.

Multilateral

George lives in fifteenth-century England. He is bound to the land but does not own it. He works the land but must give a portion of his harvest to the landowner. In return, he gets protection from roaming bandits and thieves. George is a:

Serf

Karl has been hired to paint a house blue, but he mixes the color wrong, and it turns out purple instead of blue. Under which wage system(s) would he be responsible for paying for new paint?

piecework

Because the monetary system is increasingly depersonalized, George Simmel argues that it is now possible to:

have true friendships.

According to sociologists Jerry Jacobs and Kathleen Gerson, because workers want to advance in their careers, many avoid taking full advantage of:

family-friendly office policies.

At Thanksgiving dinner, college student Janie expresses her dreams to her parents. Her aunt says, "I’m not sure that’s realistic, honey!" Janie says, "I’m a postfeminist! That’s why I expect to ________."

combine marriage to an egalitarian man with motherhood and a successful career

Some products, such as fitness tracking devices like Fitbit, are economic successes. Because they add value to the overall economy, Adam Davidson refers to them as:

productivity enhancing.

Serena works for a shoemaker in a small shop, doing a variety of tasks. At the end of the week, the shoemaker offers her a choice: She can be paid with cash, or with her choice of a pair of shoes. Serena chooses cash, which confirms Georg Simmel’s theory that says ________ is part of a historical evolution of economy that has many advantages.

depersonalized exchange

Adam Smith demonstrated with his pin factory example that:

by dividing labor, factory production increases output by making it more efficient.

You are the lord of an estate. During the enclosure movement in Tudor England, what did you likely do with some of your common land?

kicked off the commoners who had used the land for grazing

A system of payment whereby workers are paid a set amount of money not tied to the quality of the raw materials, accidents, or other exigencies in the production process refers to:

wage labor.

In addition to attracting new workers, Ford’s payment system:

reinforced women’s economic dependence at home.

An honorarium is similar to a:

gift for something you have agreed to do for someone, like giving a speech.

The rise of large-scale production, the influx of peasants to urban areas to find work, and the rise of a system of wage labor caused the ________ system to become obsolete in favor of a new system of legal currency.

barter

What characterized the "new markets" that are part of globalization?

They are primarily financial and not bound by geography; anyone anywhere with the proper equipment can participate.

Globalization in the twenty-first century is characterized by:

the emergence of new markets, new means of exchange, new players, and new rules that are intensifying worldwide interdependencies.

Serfs were the lowest class in the feudal system and were bound to the land they worked, yet they were not slaves. They were different from slaves because they could:

own property.

Toma is a nineteenth-century peasant who moved to a city to find work. Back in his village, most of Toma’s transactions were bartered-swapping an animal for cloth or potatoes for a tool. In the city, monetization governs wage labor, which means that:

legal currencies are used in financial exchanges.

Feminist sociologists claim that the family wage is a patriarchal bargain because it implies that:

women depend on a man’s wage.

Which term refers to a legally recognized person who shares many of the rights of a human individual as well as the ability to act as a legal entity by entering into contracts or owning property?

corporation

Max Weber said that a person who pursues profit removed from any sense of right and wrong has:

parceled out his soul.

Sarah has a master’s degree in disaster relief but hasn’t found work in her field. In the last year, she worked as an Uber driver for several months, then sold honey at a farmer’s market, and then found three months’ work on a temporary contract with a local publishing company. Sarah is not working full-time in her field; rather, she is underemployed in the:

gig economy.

During the agricultural revolution, the enclosure movement caused many former serfs to move to cities in search of work and led to the rise of:

wage labor.

In a capitalist economic system, the price and distribution of goods and services are determined by what?

competition

Adam Smith, the father of liberal economics, determined that groups of individuals pursuing their own self-interest manage to stay intact and not fall into civil strife because individuals:

pursuing self-interest in an environment of others acting similarly will lead to healthy competition.

One good thing about a salary, according to Simmel, is that:

workers still get paid, even if the electricity goes out for the day and no work gets done.

What effect did the agricultural revolution in Europe have on the transition to capitalism? The agricultural revolution in Europe:

helped capitalism develop.

In terms of the evolution of payment and exchange, wage labor is more developed than piecework payment because under wage labor:

the employer assumes responsibility for the quality of the raw materials, the technology, and the production process.

How did the enclosure movement change the economy in the early Tudor period in England? The enclosure movement:

created a large, new pool of urban labor.

Offshoring occurs when firms:

move all or part of their operations abroad to developing nations.

According to Adam Smith, the most efficient way to produce something is:

through a division of labor that breaks production into its constituent parts.

It is sometimes difficult to determine whether large corporations such as the Carlyle Group, or Wall Street overall, are expanding the economy in ways that broaden the economic value available to everyone or just amassing money at other people’s expense. Using Adam Davidson’s framework, a company that doesn’t add value but just rearranges existing dollars for its own benefit is called:

rent seeking.

Corporations are considered people because:

they are entities distinct from their owners.

The Bell Telephone Company, which for decades was the only provider of telephone service in the United States, was a(n):

monopoly.

At the end of the eighteenth century and the beginning of the nineteenth century, a massive transition was propelled by the development of new technologies, including:

the power loom and steam engine.

In the early days of the new monetary system, stockholders were more willing to invest in corporations because of ________, which limits their financial responsibility to whatever they invested in the company.

limited liability

FBI consultant Robert Hare claimed that in the pursuit of profits for shareholders, corporations exhibit many of the same traits as:

psychopaths.

There are two producers of wagon wheels that together are the exclusive providers to a large community. The executives of these companies meet to set minimum prices and production levels, thereby ensuring that they each will make a higher profit than they would in a free market. This is an example of a(n):

oligopoly.

Jenny lives in a society in which there is a strong norm against mixing business with pleasure. Work and leisure activities are physically separate, occurring at different times, on different days, at different places, and often with different people. Jenny lives in a ________ society.

modern capitalist

One common strategy for attracting the most buyers is:

lowering production cost.

Barbara Risman equated gender inequality, in the form of marriage, to:

racism.

In discussing financial changes that influenced the economic volatility of recent years, Adeel Qalbani describes how commercial banks are mostly ________, but investment banks are mostly ________.

heavily regulated; less regulated

Karl Marx described workers as:

alienated from the process of production.

Adam Smith argues that money is inherently social because:

any and all economic exchange requires two partners.

Some people consider corporations to be "psychopathic" because corporations:

show little regard, remorse, or guilt for harming others.

Martin decides to start a religious movement of people who both work and worship with intensity. He studies religious history and decides to create a theology that will make people feel insecure about their eternal destiny so that they will work hard in an attempt to prove themselves worthy. Martin’s religious movement is an application of whose theory?

Max Weber

How would you describe recent relations between employers and unions? Employers:

actively try to undermine unions.

Angela is writing a story about a "typical American family." She researches the work lives of the statistically typical family and concludes that her story will feature:

a husband and wife who both work.

If you are a salaried worker and you miss a day of work, how does your salary change?

It doesn’t change.

In a capitalist economic system, the price and distribution of goods and services are determined by what?

competition

Some critics claim that the Carlyle Group uses insider political knowledge, or ________, to dominate heavily regulated markets.

political arbitrage

Georg Simmel saw the development of monetary payment systems as part of a historical evolution leading to:

the depersonalization of exchange.

Under feudalism, lords exchanged land with the vassals in return for what?

protection

What is a major reason unions are on the decline in the United States today?

People don’t trust unions, saying they are corrupt and outdated.

Offshoring occurs when firms:

move all or part of their operations abroad to developing nations.

With regard to the family wage, women:

were seen to be working just for "extra money," so they were not paid the same as men.

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