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1 | | Usury is: |
| | A) | a price giving a moderate profit. |
| | B) | the practice of lending money for interest. |
| | C) | the charging of relatively low rates of interest. |
| | D) | a lack of charity. |
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2 | | The belief that hard work and adherence to a set of virtues such as thrift, saving, and sobriety would bring wealth and God's approval is known as: |
| | A) | Protestant ethic. |
| | B) | Confucian ethic. |
| | C) | positivism. |
| | D) | functionalism. |
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3 | | The political reform movement that arose among farmers in the late 1800s was the: |
| | A) | global justice movement. |
| | B) | socialistic movement. |
| | C) | populist movement. |
| | D) | progressive movement. |
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4 | | Socialism is a(n): |
| | A) | economic system in which the means of production are privately owned and operated for profit. |
| | B) | political philosophy which considers the state undesirable, unnecessary, and harmful. |
| | C) | doctrine that seeks to organize a nation according to corporatist perspectives, values, and systems. |
| | D) | doctrine of a classless society in which property is collectively owned and income from labor is equally divided among members. |
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5 | | _____ is a term that denotes both the ideology of using markets to organize society and a set of policies to free markets from state intrusion. |
| | A) | Populism |
| | B) | Neoliberalism |
| | C) | Embedded liberalism |
| | D) | Capitalism |
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6 | | The philosophy of an open society in which the state does not interfere with rights of individuals is known as: |
| | A) | federalism. |
| | B) | radicalism. |
| | C) | embedded liberalism. |
| | D) | liberalism. |
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7 | | Economic liberalism is: |
| | A) | a word that denotes both the ideology of using markets to organize society and a set of specific policies to free markets from state intrusion. |
| | B) | the philosophy that social progress comes when individuals freely pursue their self-interests in unregulated markets. |
| | C) | the philosophy that active state intervention can stabilize the economy and stimulate employment. |
| | D) | the philosophy of an open society in which the state does not interfere with rights of individuals. |
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8 | | _____ argued that markets could be managed to dampen business cycles and promote full employment. |
| | A) | John Maynard Keynes |
| | B) | Milton Friedman |
| | C) | Friedrich Hayek |
| | D) | Margaret Thatcher |
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9 | | The name given to Milton Friedman, his colleagues, and to the free market doctrine they taught is: |
| | A) | Austrian School. |
| | B) | positivist school. |
| | C) | conflict school. |
| | D) | Chicago School. |
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10 | | What is a boycott? |
| | A) | A command, directive, or order. |
| | B) | A domestic penalty applied by one country on another for a variety of reasons. |
| | C) | A call to pressure a company by not buying its products and services. |
| | D) | An authoritative order having the force of law. |
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