Question 11 / 1 ptsCountry X has no direct taxation of its people, but citizens are limited in what they can earn because wages are fixed. No matter what a citizen’s age or job is, the state provides for his or her health costs, education, and retirement, even though the quality of those services may be low. If a citizen does have cash, he or she can buy private goods but only illegally on the black market. In which of the following categories would this country belong? social democratic liberalist communist mercantilist statistQuestion 21 / 1 ptsWhich of the following statements about global inequality during the past 20 years is accurate?The global Gini coefficient has dropped slightly but remains high.Most countries’ domestic populations have become more equal internally.The global Gini coefficient shows that countries have become much more unequal relative to each other.The global distribution of domestic or international wealth has not changed.The global Gini coefficient shows that countries have become more equal relative to each other.Question 31 / 1 ptsIn the United States, the government cannot take a citizen’s property without just cause and compensation. This is an example of: social democracy. capitalism. a weak state. democracy. a property right.Question 41 / 1 ptsExtremely tight control over the money supply may result in ________, a condition that has plagued Japan since 1998. inflation uneven taxation rates hyperinflation a fixed currency rate deflationQuestion 51 / 1 ptsThe total market value of all goods and products produced in a year is known as: comparative national economics. the national comparative income. purchasing power parity. the gross domestic product. the Human Development Index.Question 61 / 1 ptsWhich of the following statements about happiness as a measure in political-economic systems is accurate?Standard of living is the highest predictor of happiness in most western European countries.Latin American countries’ very low levels of happiness correlate with very low per capita income.High levels of happiness in postcommunist countries demonstrate the effect of culture on happiness.The twenty unhappiest countries in the world contain a mix of very poor and very rich states.In the United States, relative income is likely to be a better predictor of happiness than standard of living.Question 71 / 1 ptsIn which of the following ways do both communism and mercantilism differ from liberalism? Inequality is often a result of state economic policy. The state role in the economy is minimal. They typically employ relatively low tariff barriers. They have high state autonomy and capacity.They agree that markets should play a role, if a limited one.Question 81 / 1 ptsPurchasing power parity is a way to measure: the buying power of income across countries. inequality between people. differences in social expenditures. changes in inequality over time. how high tax rates should be.Question 91 / 1 ptsWhat is the oldest of the political-economic systems, and what system first rose to challenge it? mercantilism, first challenged by liberalism liberalism, first challenged by social democracy liberalism, first challenged by mercantilism social democracy, first challenged by liberalism liberalism, first challenged by communismQuestion 101 / 1 ptsPublic goods are best defined as:goods, provided or secured by the state, that only members of the state and government may use.any goods that exist beyond the sovereignty of a state’s borders.any goods that exist solely within the sovereignty of a state’s borders. the welfare state.goods, provided or secured by the state, that are available for society and indivisible.Question 111 / 1 ptsIn which of the following ways does using purchasing power parity to calculate GDP differ from the use of straight GDP in measuring a country’s economic development?It increases the gap in economy size between developed and less-developed countries.It typically lowers the overall value of the economy for less-developed countries.It typically lowers the per capita income in a country no matter its level of development.It typically elevates measured income for countries with advanced welfare systems.It typically elevates measured income for less-developed countries.Question 121 / 1 ptsTaxes on imported goods are known as: regulatory fees. nontariff barriers. free-trade zones. quotas. tariffs.Question 131 / 1 ptsWhich of the following would be considered a public good in the United States? highways gasoline and heating oil property health care political party membershipQuestion 141 / 1 ptsWhich political-economic system views the economy as an instrument to serve state power and national sovereignty? anarchism social democracy communism liberalism mercantilismQuestion 151 / 1 ptsWhich of the following statements about social expenditures is accurate?Social expenditures that come in the form of public goods are used mostly by the very poor.Very broad welfare systems have been shown to support community institutions like the family and the church.In most countries, social welfare expenditures primarily benefit the poor.Expenditures on highways are more likely to benefit the well-off than the poor.In a sense, the welfare state primarily taxes the poor but benefits the middle class.Question 161 / 1 ptsThe ________ is in charge of regulating the supply of money in a country. national trust central bank federal mint gold standard currency boardQuestion 171 / 1 ptsWhat is a primary tactic used by central banks to combat inflation? raising interest rates increasing the money supply printing more money making credit less expensive setting lending rates very lowQuestion 181 / 1 ptsLiberalism’s view of the relationship between freedom and equality favors: freedom and equality equally. neither freedom nor equality. democracy over freedom and equality. freedom over equality. equality over freedom.Question 191 / 1 ptsSince the major economic downturn of the last decade, one trend in the United States, Canada, and Japan has been: a widespread elimination of tariff barriers. increased criticism of social democracy. a rapid growth in mercantilist policies.shifts in tax forms from national income tax to value-added tax. a reverse of economic liberalization.Question 201 / 1 ptsWhich of the following statements about the state of world liberalization in the twenty-first century is accurate?The large-scale