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| 1 | |
Milton Friedman, who believes that profits are the only business of business, maintains that |
| | A) | businesses should obey their stockholders. |
| | B) | profits should be held to reasonable levels. |
| | C) | businesses should break laws if it raises their profits. |
| | D) | businesses should not decide what is socially responsible. |
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| 2 | |
Robert Almeder, who does not believe that profits are the only business of business, asserts that |
| | A) | overregulation of business is dangerous. |
| | B) | corporate managers will never "do the right thing." |
| | C) | only regulation will keep businesses in line. |
| | D) | all businesses should follow the same moral code. |
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| 3 | |
Central to Ira T. Kay's argument is the statement that the CEOs of well-run companies: |
| | A) | receive approximately 1 percent of their corporations' net income. |
| | B) | produce significant shareholder returns. |
| | C) | provide job security for millions of workers. |
| | D) | all of the above |
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| 4 | |
Edgar Woolard, Jr., is deeply saddened by: |
| | A) | the loss of respect experienced by America's corporate leaders. |
| | B) | overblown media reports on corporate fraud. |
| | C) | the shortage of CEO talent coming out of today's universities. |
| | D) | his company's bankruptcy. |
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| 5 | |
The position of William A. Darity, Jr., and Patrick L. Mason, who believe that there is discrimination in U.S. labor markets, cannot be regarded as |
| | A) | liberal. |
| | B) | activist. |
| | C) | laissez-faire. |
| | D) | reformist. |
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| 6 | |
The position of James J. Heckman, who does not believe that there is discrimination in U.S. labor markets, cannot be regarded as |
| | A) | laissez-faire. |
| | B) | reformist. |
| | C) | neoclassical. |
| | D) | conservative. |
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| 7 | |
As brought out by McClellan, the enhanced preventive benefits and coverage options provided by MMA will enjoy greater public awareness with the campaign known as: |
| | A) | The Bush Elder-Care Initiative. |
| | B) | My Health. My Medicare. |
| | C) | Old Age. New Drugs. |
| | D) | Retire Well. |
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| 8 | |
Gokhale gives a general thumbs-down to MMA by asserting that it was: |
| | A) | a communist manifesto. |
| | B) | the bad brainchild of a liberal president. |
| | C) | over-thought and ill-thought. |
| | D) | hastily passed. |
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| 9 | |
Langston describes MSAs and HSAs as forms of health-insurance coverage that include: |
| | A) | a high-deductible insurance plan. |
| | B) | a tax-advantaged personal savings account. |
| | C) | coverage that is more affordable than traditional insurance. |
| | D) | all of the above |
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| 10 | |
As explained by Greenstein, the abandonment by healthy, low-risk individuals of their comprehensive health insurance for other, high-deductible, low-premium coverage is known as: |
| | A) | panic response. |
| | B) | bailing out. |
| | C) | adverse selection. |
| | D) | natural selection. |
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| 11 | |
The U.S. Department of Health and Human Services, which believes that it is time to reform medical malpractice litigation, asserts all of the following except |
| | A) | malpractice litigation without damage caps threatens access to care. |
| | B) | the current litigation system curbs physician negligence and mistakes. |
| | C) | malpractice litigation without damage caps jeopardizes patient safety. |
| | D) | malpractice litigation without damage caps increases health care costs. |
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| 12 | |
Jackson Williams, who does not believe that it is time to reform medical malpractice litigation, asserts all of the following except |
| | A) | doctors withdraw from practice because of increases in office rent or payroll costs, not in insurance coverage costs. |
| | B) | the current litigation system curbs physician negligence and mistakes. |
| | C) | costs of litigation exceed costs of medical injuries. |
| | D) | the medical malpractice litigation process is logical. |
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| 13 | |
In the opinion of the Los Angeles County Economic Development Corporation (LAEDC), which believes that Wal-Mart is good for the economy, critical to determining the potential impact of Wal-Mart Supercenters is |
| | A) | the strength of the local economy. |
| | B) | fluctuations in the U.S. economy. |
| | C) | the speed of population growth. |
| | D) | timing. |
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| 14 | |
Due to its goal of maintaining low wages and poor working conditions, the Democratic Staff of the House Committee on Education and the Workforce, which does not believe that Wal-Mart is good for the economy, finds a symbiosis between Wal-Mart and |
| | A) | Bangladesh. |
| | B) | China. |
| | C) | Honduras. |
| | D) | Mexico. |
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| 15 | |
According to the White House, which believes that Social Security should be changed to include personal retirement accounts (PRAs), personal retirement account options and management would be similar to the structure of the |
| | A) | Securities and Exchange Commission (SEC). |
| | B) | Federal Deposit Insurance Corporation (FDIC). |
| | C) | Thrift Savings Plan (TSP). |
| | D) | none of the above |
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| 16 | |
Dean Baker, who does not believe that Social Security should be changed to include PRAs, attributes the success of the "crisis story" with regard to Social Security to |
| | A) | the use of descriptive language in framing the issue. |
| | B) | calculated deception of the U.S. media. |
| | C) | the manipulation of the president by others in the Bush administration. |
| | D) | the use of questionable data to support the existence of a crisis. |
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| 17 | |
Norbert J. Michel, Alfredo Goyburu, and Ralph A. Rector, who believe that the double taxation of corporate dividends should be eliminated, say that if it is, all of the following will increase, except |
| | A) | gross domestic product (GDP). |
| | B) | employment. |
| | C) | disposable income. |
| | D) | corporate taxes. |
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| 18 | |
Joel Friedman and Robert Greenstein, who do not believe that the double taxation of corporate dividends should be eliminated, suggest that a more effective way to stimulate the economy would be to |
| | A) | extend unemployment benefits. |
| | B) | give middle-class taxpayers a rebate. |
| | C) | eliminate the tax on corporate profits. |
| | D) | reduce payroll taxes. |
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| 19 | |
Robert D. Manning, who believes that credit card companies are exploiting American consumers, contends that the credit card industry keeps customers in the dark because legal disclosure would |
| | A) | result in customers suing for fraudulent past business practices. |
| | B) | drive customers to other banks. |
| | C) | cut into profits. |
| | D) | discourage customers from applying for universal credit cards. |
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| 20 | |
Michael F. McEneney, who does not believe that credit card companies are exploiting American consumers, emphasizes that the financial marketplace is a complex system that relies on |
| | A) | providing consumers with choice. |
| | B) | good marketing balanced by sound disclosure laws. |
| | C) | fundamental financial literacy on the part of the consumer. |
| | D) | the ability to do business with as little regulation as possible. |
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| 21 | |
According to MacKenzie, when minimum wages go up, employers are
forced to dismiss low-productivity workers, a policy that has
the most negative effect on those with the least: |
| | A) | education. |
| | B) | job experience. |
| | C) | maturity. |
| | D) | all of the above |
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| 22 | |
Wicks-Lim says it is difficult to report on the actual consequences to employers in the wake of wage laws' ripple effects because: |
| | A) | employers are reluctant to admit that they feel no adverse consequences. |
| | B) | research on ripple effects has been sparse. |
| | C) | wage laws have been enacted only once since 1938. |
| | D) | ripple effects are essentially imaginary. |
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| 23 | |
Malanga's assessment of America's immigrants includes a mention of Asian entrepreneurs, who: |
| | A) | run businesses despite their largely undocumented status. |
| | B) | helped revive inner-city Los Angeles, thus being exceptions to the negative immigrant norms. |
| | C) | have done more to build the drug and pornography trades in the United States than any other group. |
| | D) | are involved in more organized crime than the Mafia. |
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| 24 | |
Furchtgott-Roth explains that the "unskilled labor force" is defined as those who: |
| | A) | have just joined the workforce. |
| | B) | do not have high school diplomas. |
| | C) | are under the age of 25. |
| | D) | work in one of the "F" industries: factories, farms, and food services. |
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| 25 | |
Murray N. Rothbard, who believes that protectionist policies are bad for America, argues that current protectionist propaganda recalls |
| | A) | Japan during World War II. |
| | B) | Germany during World War II. |
| | C) | competition between U.S. textile manufacturers in the North and South. |
| | D) | the iron industry in Pennsylvania during the War of 1812. |
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| 26 | |
Patrick J. Buchanan, who does not believe that protectionist policies are bad for America, credits all of the following as advocates of free trade except |
| | A) | Milton Friedman. |
| | B) | Karl Marx. |
| | C) | nations that have commenced their historic decline. |
| | D) | European academics and scribblers. |
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| 27 | |
Which one of the following members of the garment-production chain do Richard Appelbaum and Peter Dreier, who believe that we should sweat about sweatshops, say is invisible? |
| | A) | retailers |
| | B) | designers |
| | C) | consumers |
| | D) | contractors |
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| 28 | |
Which one of the following nations do Nicholas D. Kristof and Sheryl WuDunn, who do not believe that we should sweat about sweatshops, has resisted foreign exploitation? |
| | A) | Cambodia |
| | B) | China |
| | C) | Taiwan |
| | D) | India |
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| 29 | |
Lester R. Brown, who believes that the costs of global warming are too high to ignore, lists all of the following as ecosystems that supply our food and raw materials except |
| | A) | forests. |
| | B) | canals. |
| | C) | croplands. |
| | D) | fisheries. |
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| 30 | |
Lenny Bernstein, who does not believe that the costs of global warming are too high to ignore, focuses his report on all of the following changes except |
| | A) | species extinctions. |
| | B) | higher atmospheric concentrations of carbon dioxide. |
| | C) | warmer temperatures. |
| | D) | increased precipitation. |
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| 31 | |
As described by Edwards, federal deficits can be thought of as: |
| | A) | signs of a growing economy. |
| | B) | minor fiscal problems. |
| | C) | short-term, interest-free loans. |
| | D) | deferred taxes on future generations. |
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| 32 | |
According to Stenholm, the United States has sustained large budget deficits without a rise in domestic interest rates because the increased borrowing has been offset by an increased inflow of: |
| | A) | corporate donations. |
| | B) | capital from global markets. |
| | C) | federal taxes. |
| | D) | state taxes. |
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| 33 | |
Melle sets forth all of the following claims regarding NAFTA, except that: |
| | A) | NAFTA partners are investing more in each other's economies. |
| | B) | the rest of the world is investing more in the NAFTA nations' economies. |
| | C) | wage gaps are closing in all NAFTA countries. |
| | D) | NAFTA remains a vibrant agreement. |
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| 34 | |
Polaski reports that, during the NAFTA years, a trend of wages and household incomes moving toward more inequality, with most gains going to the upper 20 percent of households and higher-skilled workers, has been occurring in: |
| | A) | Canada. |
| | B) | the U.S. |
| | C) | Mexico. |
| | D) | all three countries. |
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| 35 | |
According to the House Education and the Workforce Committee, which believes that the No Child Left Behind Act (NCLB) is working, the primary enforcement mechanisms behind NCLB reforms is |
| | A) | teacher empowerment. |
| | B) | parent involvement. |
| | C) | federal enforcement. |
| | D) | public scrutiny. |
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| 36 | |
With regard to comparing how students are performing from state to state, Gerald W. Bracey, who does not believe that NCLB is working, would say that all of the following statements are true except |
| | A) | the National Assessment of Educational Progress (NAEP) helps people compare states' achievement levels. |
| | B) | having students score low has political uses. |
| | C) | NAEP standards ensure that no one will ever attain 100 percent proficiency for any group. |
| | D) | each state must adhere to a single definition of "proficient." |
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| 37 | |
As stated by the White House, in June 2002, President Bush encouraged real-estate and mortgage-finance companies to close the gap between homeownership rates of minorities and non-minorities when he issued his: |
| | A) | America's Homeownership Challenge. |
| | B) | Rainbow Neighborhood Initiative. |
| | C) | Homes Across America Campaign. |
| | D) | No Family Left Behind Program. |
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| 38 | |
As Glastris sees it, conservative scholars and movement organizers will tell you that big government and individual freedom: |
| | A) | are two of the principles for which our forefathers died. |
| | B) | are the God-given rights of every American. |
| | C) | go hand in hand. |
| | D) | are opposed to each other. |
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