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1
As cited in "Economics and the New Economy: The Invisible Hand Meets Creative Destruction," one sign that there has been a fundamental shift in the U.S. economy in recent times is that:
A)the direct production of goods and services demands more of workers' time.
B)the direct production of goods and services no longer demands most of workers' time.
C)employees work fewer hours.
D)management is more willing to share profits with workers.
2
As noted in "On Making Economics Realistic," asymmetric information can cause a market to:
A)heat up and get out of control.
B)fare well in the short run, but fizzle out over time.
C)be susceptible to fraudulent transactions.
D)collapse.
3
As described in "On Making Economics Realistic," perfect competition assumes:
A)many buyers and sellers in a market, none with market power.
B)few buyers and many sellers, creating a price competition among the sellers.
C)many buyers and many sellers, creating a demand competition among the buyers.
D)a seller will always sell his product at the price he wants.
4
The labor market, as characterized in "On Making Economics Realistic," can be considered just as any other market for goods such as wheat.
A)True
B)False
5
As characterized in "Beyond a President's Control," when it comes to the nation's economy, most experts agree that:
A)Republicans always get better growth.
B)Democrats always get better growth.
C)the president has little influence over its performance.
D)the president has great influence over its performance.
6
As related in "Beyond a President's Control," President Franklin D. Roosevelt exerted great influence over the economy with:
A)increased public spending and dismantling the gold standard.
B)tax cuts targeted to the middle class.
C)tax cuts targeted to the upper classes.
D)a tightening of Federal Reserve lending criteria.
7
As stated in "Beyond a President's Control," the American public generally believes that the president is responsible for the state of the economy.
A)True
B)False
8
As reported in "State of the Union: Black Holes in the Statistics," errors in measuring commonly used economic statistics are often attributable to:
A)estimating almost all factors.
B)using outdated statistical techniques.
C)ignoring factors that are not easily measured.
D)political bias.
9
The underground economy, as reported in "Notes From Underground: Money That People Earn and Spend Outside the Realm of Official Economic Calculations Is Nonetheless Real," is generally:
A)regarded as criminal activity that must be halted.
B)counted as part of the Gross Domestic Product by the Department of Commerce.
C)ignored by the Department of Commerce in economic assessments.
D)only a small and variable segment of the overall economy.
10
According to "Notes From Underground: Money That People Earn and Spend Outside the Realm of Official Economic Calculations Is Nonetheless Real," the largest type of production not included in official economic accounts is:
A)housework.
B)temporary labor, such as baby-sitting or lawn mowing performed by teenagers.
C)illegal activity, such as gambling or prostitution.
D)domestic labor performed by illegal immigrants.
11
The official Gross Domestic Product of the United States, as noted in "Notes From Underground: Money That People Earn and Spend Outside the Realm of Official Economic Calculations Is Nonetheless Real," is regarded by experts as a gross underestimate of the true total of goods and services produced each year.
A)True
B)False
12
One of the studies cited in "Technology, Productivity, and Public Policy" found that most of the relative increase in demand for college-educated workers can be explained by:
A)the complexities of modern business management.
B)use of high-tech components in manufacturing industries.
C)high wages paid by employers.
D)rising workplace computer use.
13
As given in "Technology, Productivity, and Public Policy," harmonization policies, such as TRIPS, can improve social efficiency by:
A)increasing protections that fuel innovative activity.
B)keeping products profitable.
C)lowering tariffs.
D)enforcing industry standards.
14
As brought out in "Technology, Productivity, and Public Policy," investment rates in poor countries only appear low when evaluated at international prices.
A)True
B)False
15
According to "An International Tale of Two Consumers," the purpose of the RTP (Rate of Time Preference) is to:
A)encourage consumer spending.
B)discourage consumer spending.
C)establish when workers should retire.
D)capture consumers' attitudes toward current versus future consumption.
16
As characterized in "Taxing Terminology: A Primer," President Bush's tax proposal has:
A)been denounced by the wealthy.
B)produced a good deal of ill-informed rhetoric from supporters and critics.
C)drawn support from advocates for the poor.
D)been hailed by most Republicans and Democrats.
17
As established in "Taxing Terminology: A Primer," the purpose of the alternative minimum tax is to:
A)provide relief to low-income taxpayers.
B)credit taxpayers with children in college.
C)adjust taxes for unmarried taxpayers.
D)prevent the wealthy from using legal breaks to reduce or eliminate their tax liability.
18
As noted in "Taxing Terminology: A Primer," the deductions from wages, matched by employers, for Social Security and Medicare are known as payroll taxes.
A)True
B)False
19
The author of "Surplus Mania: A Reality Check" states that the budget surplus.
A)is a myth.
B)will be short-lived.
C)will continue for at least 10 years.
D)will continue until mid-century.
20
As cited in "The Deficit: America's Credibility Gap," a major consequence of record-high budget deficits is:
A)creditors lose confidence in the ability of the United States to pay back its debts.
B)taxes must be increased.
C)spending must be decreased.
D)productivity rates fall.
21
As related in "The Deficit: America's Credibility Gap," under the Bush Administration, experts expect the deficit to:
A)decrease in real dollars due to tax cuts.
B)decrease in percentage of GDP.
C)increase in real dollars, but not in percentage of GDP.
D)rise to record levels, both in real dollars and percent of GDP.
22
As mentioned in "The Deficit: America's Credibility Gap," deficits always spell trouble for an economy.
A)True
B)False
23
As noted in "Go Figure," tax preferences:
A)are directed at supporters of the political party that controls Congress.
B)ignore minorities.
C)mostly subsidize activities, such as saving money or having kids, that would have occurred anyway.
D)benefit only the wealthy.
24
As recounted in "Go Figure," before the 2000 election, Congress was working on tax bills that would:
A)make the tax code simpler and fairer.
B)reward key groups of voters.
C)punish uncommitted voters.
D)close existing loopholes in the tax code.
25
As characterized in "Go Figure," the tax code has become the lawmakers' code of good conduct.
A)True
B)False
26
As noted in "Social Spending and Economic Growth," societies that spend more on social programs generally experience:
A)lower growth rates than societies that spend less.
B)higher growth rates than societies that spend less.
C)virtually the same growth rates as societies that spend less.
D)negative growth rates.
27
As mentioned in "Social Spending and Economic Growth," the negative-income-tax experiments of the 1960s and 1970s tested different tax systems and showed that:
A)there was no significant effect on people's tendency to work.
B)as taxes rose, people worked less.
C)as taxes rose, people worked more.
D)greater unemployment benefits drove people to find work faster.
28
As shown in "Social Spending and Economic Growth," social transfers of wealth without exception inhibit productivity and GDP.
A)True
B)False
29
As reported in "Social Security Reform Need Not Be Drastic," demographics show that in the future there will be:
A)more female than male workers supporting each retiree.
B)no need to work past age 60.
C)fewer workers supporting each Social Security beneficiary.
D)just as much money available until at least 2100 to support each beneficiary.
30
According to "What Should Central Banks Do?" the overriding, long-term goal of monetary policy should be:
A)spurts of economic expansion.
B)communication.
C)price stability.
D)high economic output.
31
As stated in "What Should Central Banks Do?" it may be more difficult for the monetary authorities to pursue price stability if:
A)there are budget surpluses.
B)fiscal policy is irresponsible.
C)politics become part of the process.
D)neighboring countries have mature economies.
32
As concluded in "What Should Central Banks Do?" the Federal Reserve requires an institutional restructuring in order to keep pace with the world economy.
A)True
B)False
33
As explained in "How Does Monetary Policy Affect the U.S. Economy?" in order to influence the U.S. economy, the Federal Reserve Board implements its monetary policy via raising or lowering:
A)taxes.
B)the real interest rate.
C)the nominal interest rate.
D)the marginal interest rate.
34
As presented in "How Does Monetary Policy Affect the U.S. Economy?" if the interest rate on a loan is six percent and the inflation rate is two percent, then the real interest rate for this loan is:
A)four percent.
B)eight percent.
C)six percent.
D)two percent.
35
As described in "How Does Monetary Policy Affect the U.S. Economy?" monetary policy directly controls U.S. employment rates.
A)True
B)False
36
According to "How Does the Fed Decide the Appropriate Setting for the Policy Instrument?" the main job of the Fed is to:
A)print money.
B)set U.S. monetary policy.
C)use forecasts to divine the direction of the U.S. economy.
D)reduce policy lags.
37
As indicated in "How Does the Fed Decide the Appropriate Setting for the Policy Instrument?" when the rates of productivity and growth increases, the Fed usually:
A)does nothing; growth is desirable for any economy.
B)tightens monetary policy to dampen inflationary pressures.
C)shortens the business cycle.
D)relaxes the money supply to keep up with demand due to increased productivity.
38
As noted in "How Does the Fed Decide the Appropriate Setting for the Policy Instrument?" the trend growth rate actually experienced a slowdown.
A)True
B)False
39
As brought out in "How Sluggish Is the Fed?" the Federal Reserve's adjustment of monetary policy in response to economic developments is:
A)so slow that the Federal Reserve should be restructured.
B)an example of "monetary policy inertia."
C)is usually too rapid and unnecessary.
D)quite prompt within the quarter.
40
As concluded in "The Science (and Art) of Monetary Policy," accurate economic forecasts are based on all of the following except good:
A)data.
B)conditions.
C)economic models.
D)judgment.
41
As presented in "The Science (and Art) of Monetary Policy," in order to focus on the output gap, a central bank should:
A)stabilize the output gap.
B)close the output gap.
C)expand the output gap.
D)stabilize unemployment through monetary policy.
42
As noted in "The Science (and Art) of Monetary Policy," through most of the 1990s, the inflation rate, as measured by the CPI, actually declined.
A)True
B)False
43
As discussed in "The New World of Banking," the new financial reforms of the Gramm-Leach-Bliley Act:
A)were designed to make banking fairer.
B)should better protect bank-customer privacy.
C)are likely to lower the cost of banking services for consumers.
D)allow concentration of power in the hands of conglomerates.
44
As reported in "The New World of Banking," among the provisions of the Gramm-Leach-Bliley law are:
A)an updating of the Community Reinvestment Act.
B)new protections of consumer privacy.
C)the possibility of a monopoly of power in the hands of conglomerates.
D)provisions to prevent financial failures.
45
As suggested in "The New World of Banking," the new financial-reform law allows various affiliated companies under the same corporate umbrella to share information about customers.
A)True
B)False
46
As noted in "Banking Consolidation," most of the bank mergers in recent years have been market-expansion mergers, which means that:
A)the merging parties have few if any overlapping markets.
B)the merge involves a bank and another operation, such as an investment firm, to expand the variety of services offered by the bank.
C)a stronger, larger bank acquires a smaller, weaker bank.
D)banks in the same state consolidate operations.
47
As explained in "Banking Consolidation," since 1997 there has been a significant increase in the number of large bank mergers due to:
A)the failure of smaller banks.
B)the Riegle-Neal Act, which allows interstate banking.
C)the technology boom of the 1990s enabled many banks to consolidate.
D)a desire to present a strong, united front to foreign banks.
48
As claimed in "Banking Consolidation," there are now three megabanks that can boast of banking operations in all 50 U.S. states.
A)True
B)False
49
As noted in "Why an Old Prohibition Against Linking Loans and Services is Obsolete," many bank restrictions were lifted in 1999, but the major one that remains does not allow:
A)banks to do both commercial banking and investment services.
B)mega-mergers across state lines.
C)banks to charge for teller services.
D)making tied loans.
50
As shown in "Why an Old Prohibition Against Linking Loans and Services is Obsolete," the GAO has been investigating illegal tying and will most likely conclude that:
A)most banks engage in illegal tied loans.
B)tying has not posed terrible widespread disadvantages to corporate clients.
C)tying is forming an unhealthy bond between banks and customers.
D)the monopolies that arise from tied loans will affect the wider economy in serious ways.
51
As cited in "Why an Old Prohibition Against Linking Loans and Services is Obsolete," one large bank has dropped more than 200 corporate clients because they did not purchase other banking services.
A)True
B)False
52
As detailed in "The Cycles of Financial Scandal," during the last few decades the U.S. economy has been transformed by:
A)globalization.
B)regionalization.
C)financialization.
D)industrialization.
53
As asserted in "Macro Policy Lessons from the Recent Recession," the U.S. economic future is unstable, due primarily to:
A)the high-tech boom of the 1990s.
B)high interest rates and the refinancing boom.
C)the Bush Administration's unwillingness to address the serious problems confronting the nation.
D)uncoordinated and inappropriate economic policy during the recession and "job loss" recovery.
54
One of the main reasons, as cited in "Macro Policy Lessons from the Recent Recession," why the recession was so shallow is because the economy experienced:
A)a refinancing boom.
B)the highest interest rates in 30 years.
C)the lowest unemployment rates since the 1940s.
D)smart fiscal policy from the Bush Administration.
55
During the refinancing boom, as suggested in "Macro Policy Lessons from the Recent Recession," households gained resources but spent most or all of their gains on consumption rather than on financial assets.
A)True
B)False
56
The author of "The New Growth Economics: How to Boost Living Standards Through Technology, Skills, Innovation, and Compensation" believes that the New Economy will boost living standards through all of the following except:
A)technology.
B)skills.
C)innovation.
D)reduced competition.
57
As stated in "The Mystery of Economic Recessions," economists have not been able to pinpoint what ultimately causes recessions because:
A)data are not available in time.
B)too many factors are involved.
C)probably, the causes are psychological and thus intangible.
D)information from foreign countries, necessary in a globalized economy, is unreliable.
58
As disclosed in "The Mystery of Economic Recessions," a decline in consumer confidence is a useful predictor that:
A)unemployment will rise.
B)consumer spending will drop.
C)the saving rate will rise dramatically.
D)stock indexes will fall.
59
As cited in "The Mystery of Economic Recessions," Federal Reserve Chairman Greenspan has come to symbolize support for the new economy.
A)True
B)False
60
As stated in "The Cost of Living and Hidden Inflation," current official measures of inflation:
A)are still the best measures available.
B)have no relevance to modern economic conditions.
C)overestimate the true increases in the cost of living.
D)underestimate the true increases in the cost of living.
61
Regarding inflation, as addressed in "A Fight Against Fear As Well As Inflation," the chairman of the Federal Reserve expects:
A)inflation rates to rise sharply in the next year or so.
B)inflationary pressures are unlikely to be a serious concern.
C)deflation to be of concern over the next year.
D)inflation rates to decrease in the next year or so.
62
As shown in "A Fight Against Fear As Well As Inflation," labor costs are rising slowly due to:
A)relatively high unemployment rates.
B)an increase in productivity.
C)an unwillingness on the part of corporate America to raise wages.
D)high interest rates.
63
According to "A Fight Against Fear As Well As Inflation," the Fed expects interest rates to rise to at least 18 percent in the next year.
A)True
B)False
64
Labor economist Gary Burtless, as cited in "Link Between Taxation, Unemployment Is Absent," concludes that the main taxation issue is:
A)tax levels.
B)tax structures.
C)earned income credits.
D)the need to tax Social Security payments.
65
As described in "Does Lower Unemployment Reduce Poverty?" it might be useful and more informative to measure not only the number of people living in poverty, but also the:
A)number of people living in great wealth.
B)number of those people who have jobs.
C)number of children living in poverty.
D)degree and extent of poverty.
66
As concluded in "Does Lower Unemployment Reduce Poverty?" Dr. Defina's research shows that when trying to remedy poverty:
A)the state should focus on decreasing unemployment rates.
B)there should not be an over-reliance on decreasing unemployment rates as an anti-poverty cure-all.
C)the state should focus on providing tax cuts to the wealthy so that they can "trickle down" to the poor in the form of jobs.
D)the goal should be to increase the average poverty gap.
67
As cited in "Does Lower Unemployment Reduce Poverty?" the strong economy of the 1990s coincided with a significant decline in the headcount rate of poverty.
A)True
B)False
68
According to "Employment May Be Even Weaker Than You Think," the BLS may currently be overstating the overall number of jobs because:
A)it uses a probability sample.
B)depends on voluntary reporting.
C)reporting establishments tend to overstate the number of employees.
D)used a quota sample survey method known to be at risk for statistical biases.
69
The author of "More Jobs, Worse Work" points out, regarding U.S. job creation, that most new jobs:
A)are outsourced overseas.
B)require advanced college degrees.
C)are at the low end of the quality spectrum.
D)pay less than minimum wage.
70
The notable decline in union membership in the United States, as asserted in "Lighting Labor's Fire," is one of the key reasons behind:
A)high unemployment rates.
B)worker dissatisfaction.
C)growing income disparity.
D)hostility between workers and employers.
71
The underlying reason for organized labor's decline, as put forth in "Lighting Labor's Fire" is that:
A)most people do not feel unions can help their work situation.
B)people are not free to join a union without fear of being fired.
C)frequent strikes have turned people off on the idea of unions.
D)most workers today would be ineligible to join a union.
72
Labor unions, as noted in "Lighting Labor's Fire," were successful in the 1960s and 1970s when they took advantage of the "rights revolution," including the women's movement and the civil rights movement.
A)True
B)False
73
As described in "Foreign Economic Policy for the Next President," economic policy is considered an extremely important part of U.S. foreign policy because:
A)the United States is the world's only military superpower.
B)the United States is the world's foremost economic superpower.
C)the success of the U.S. economy is inextricably linked with the health of the global economy.
D)it is only through economic sanctions that the United States can influence other countries.
74
According to "Foreign Economic Policy for the Next President," in the past 50 years, the most important catalyst for change in international affairs has been:
A)military intervention.
B)globalization.
C)political intervention.
D)economic sanctions.
75
As noted in "Foreign Economic Policy for the Next President," the United States is the world's largest debtor nation, meaning it owes more money to creditors than any other country.
A)True
B)False
76
As held in "Why Do Certain Countries Prosper?" certain countries and industries prosper primarily because:
A)tax levels are low.
B)raw materials and transportation are readily available.
C)home industries are protected from foreign competition.
D)they are more productive.
77
As detailed in "Perspectives on Global Outsourcing and the Changing Nature of Work," the main function of outsourcing is to:
A)increase foreign dependence on the American economy.
B)complete those jobs that American workers refuse to do.
C)shift the economy to the global stage.
D)assign tasks to organizations that specialize and can do the job at a lower cost.
78
As shown in "Perspectives on Global Outsourcing and the Changing Nature of Work," outsourcing has changed the nature of work in that:
A)workers must be more adaptable in their skills to changing demands.
B)a worker can now expect to stay with a firm for the life of his or her career.
C)it is now necessary to speak a foreign language to perform most U.S. jobs.
D)American workers must now work for less than minimum wage to compete with foreign workers.
79
As noted in "Perspectives on Global Outsourcing and the Changing Nature of Work," the only U.S. jobs fit for outsourcing are those in the manufacturing sector.
A)True
B)False
80
According to "The Fall and Rise of the Global Economy," globalization:
A)has risen steadily since the early twentieth century.
B)has never been as broad and as deep as it is now.
C)began in the 1950s.
D)is still in its infancy.
81
As concluded in "The Fall and Rise of the Global Economy," as globalization has grown:
A)the primary beneficiaries have been developing countries.
B)non-tariff economic barriers have increased.
C)the United States has gained enormously from these linkages.
D)Canada and Mexico have suffered economically.
82
As pointed out in "The Fall and Rise of the Global Economy," the global economy was not integrated at all at the start of the twentieth century.
A)True
B)False
83
According to "The "Globalization" Challenge: The U.S. Role in Shaping World Trade and Investment," governments around the world should:
A)fight the tide of globalization.
B)insulate their countries from international influences.
C)fight for the abolition of the World Trade Organization.
D)embrace the new opportunities of globalization.
84
As reported in "The "Globalization" Challenge: The U.S. Role in Shaping World Trade and Investment," one-worlders want:
A)the IMF and the WTO to be abolished.
B)an end of world labor standards.
C)increased authority for the IMF and WTO.
D)reduction of environmental regulations.
85
As discussed in "The "Globalization" Challenge: The U.S. Role in Shaping World Trade and Investment," IMF funds often wind up in the hands of troubled banks that use them to protect large depositors.
A)True
B)False
86
As demonstrated in "Should We Worry About the Large U.S. Current Account Deficit?" the importance of the current-account deficit is:
A)overemphasized.
B)generally dismissed by Democrats in Congress.
C)rarely understood, even by economists.
D)interpreted in many different ways.
87
According to "Global Shell Games: How the Corporations Operate Tax Free," U.S.-based multinational corporations have devised numerous systems for avoiding:
A)paying U.S. taxes.
B)penalties for illegal money transfers.
C)regulatory control of their export activities.
D)environmental controls in their host countries.
88
As global trade has expanded, as maintained in "Global Shell Games: How the Corporations Operate Tax Free," the tax burden in the United States has shifted onto:
A)small, local businesses.
B)public corporations.
C)multinational corporations.
D)individual taxpayers.
89
More than two-thirds of foreign, multinational corporation in the United States pay federal taxes here, as noted in "Global Shell Games: How the Corporations Operate Tax Free," while an equal number of U.S.-based multinationals pay no taxes at all.
A)True
B)False
90
As noted in "Free Trade on Trial--Ten Years of NAFTA," public opinion of NAFTA in all three member countries is generally negative, due to:
A)the fact that NAFTA has effectively destroyed the economies of all three member countries.
B)pervasive anti-corporatization and anti-globalization sentiment.
C)evidence that the agreement falls far short of its original objectives.
D)a tendency, right or wrong, to blame the agreement for every economic disappointment since its passage.
91
As explained in "Free Trade on Trial--Ten Years of NAFTA," the Tequila crisis in Mexico of 1994-95 occurred when:
A)low-skilled manufacturing jobs were lost, causing widespread unemployment and panic.
B)the value of the peso plunged, followed by a collapse of the financial system.
C)the supply of the popular liquor ran low and prices shot up to U.S.$50 per bottle.
D)a popular uprising against the signing of NAFTA led to the political downfall of the Mexican president.
92
As maintained in "Free Trade on Trial--Ten Years of NAFTA," the United States gave substantial aid to Mexico after its Tequila crisis mainly because it was strongly committed to making sure its new NAFTA partner did not fail economically.
A)True
B)False
93
As characterized in "Trade in the Americas: All in the Familia," President Bush's approach to trade policy is that:
A)the United States will be protectionist.
B)laissez-faire economics suit his administration.
C)foreign nations should adopt U.S. views.
D)friendly neighbors are welcome.
94
As presented in "Trade in the Americas: All in the Familia," the South American country that is not sure about supporting the FTAA is:
A)Argentina.
B)Brazil.
C)Chile.
D)Venezuela.
95
As pointed out in "Trade in the Americas: All in the Familia," regional trade agreements in South America have made that continent's markets more open than those of Asia.
A)True
B)False
96
According to "Latin America's Volatile Financial Markets," during the second half of the twentieth century, Latin America came a considerable distance in terms of all of the following except:
A)economic restructuring.
B)upgrading of infrastructure.
C)developing internal capital markets.
D)creating a better environment for trade.
97
As stated in "Latin America's Volatile Financial Markets," for their export-driven growth, the countries of Latin America are extremely dependent on:
A)the European Union.
B)the United States.
C)the Middle East.
D)East Asian markets.
98
As reported in "Latin America's Volatile Financial Markets," since the early 1990s, Latin American economies have been in decline.
A)True
B)False
99
According to "Japan Learns the Sun May Not Come Out Tommorow," Japan's long recession has:
A)also dampened China's economy.
B)led to pessimism in Japan about the nation's economic future.
C)still not prevented Japan from overtaking the United States economically.
D)caused Japan to adopt isolationist economic policies.
100
As presented in "The Limits to Consumption," Asian governments are hoping that the region's new engine for economic growth will be the:
A)tourist industry.
B)American homeowner.
C)credit-charged domestic consumer.
D)European market.
101
As explained in "The Limits to Consumption," South Korea's economic restructuring has included all of the following steps except:
A)closing companies.
B)lowering taxes.
C)tightening consumer credit.
D)consolidating banks.
102
As stressed in "The Limits to Consumption," many Asia banks have large portfolios of non-performing loans.
A)True
B)False
103
The economic crisis in East Asia in 1997-98 was triggered by:
A)the bankruptcy of a major South Korean conglomerate.
B)the collapse of the Thai currency, the baht.
C)U.S. investors withdrawing their funds from East Asia.
D)Japan's efforts to dominate East Asia's economy.
104
According to "China's Economic Power: Enter the Dragon," during the next two decades, China:
A)will surpass the United States as the largest economy in the world.
B)will experience minimal economic growth.
C)could become the world's second largest economy.
D)will probably enter a close military-economic alliance with Japan.
105
As noted in "China's Economic Power: Enter the Dragon," one of the first consequences of WTO membership for China will be:
A)an increase in the minimum wage for Chinese workers.
B)a swift increase in commitments of foreign direct investment (FDI).
C)the loss of its advantages in cheap, labor-intensive sectors.
D)the exclusion of the Communist Party from real power.
106
As discussed in "China's Economic Power: Enter the Dragon," membership in the WTO will hinder domestic competition in China.
A)True
B)False
107
As explained in "Changing Today's Consumption Patterns--for Tomorrow's Human Development," an examination of consumption patterns in the world reveals that:
A)the poorer nations cause most of the pollution.
B)the richer nations are largely free of poverty.
C)industrialized countries use a disproportionate share of the resources.
D)gaps between rich and poor nations are shrinking.
108
According to "Changing Today's Consumption Patterns--for Tomorrow's Human Development," in order to achieve a more equitable pattern of consumption:
A)environmental standards must be set aside in poor countries.
B)different work ethics must be developed in poor countries.
C)population growth must be halted.
D)rich countries must shift to pro-people consumption patterns.
109
As reported in "Changing Today's Consumption Patterns--for Tomorrow's Human Development," the United States has the highest average income and the highest population share experiencing human poverty of all the countries measured in the new human poverty index.
A)True
B)False





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