Review Test Submission: Final Exam PA 315 FALL 2019 – ... https://csusb.blackboard.com/webapps/assessment/review/review.jsp...

Financial Institutions

Homelessness

Economic Development

International Trade

Education

All Answer Choices

A. The accumulation of annual deficits

B. Long term student debt

C. Annual spending in excess of revenues

D. 25% reside in California

E. Continued reliance on traditional forms and supppliers

F. Undocumented persons

G. Dodd-Frank

H. No clear mandate for coverage

World economic growth but domestic problems

I.

J. Revised transportation infrastructure

Question 2 0 out of 2 points

Which of the following would be the immediate result of balancing the budget?

Answers: Reduce the national debt

No impact at all

Eliminate the national debt

Stop the national debt from growing

Question 3 2 out of 2 points

Which of the following is NOT among Friedman’s 10 forces that flattened the world?

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Answers: Offshoring

Uploading

Upending

Outsourcing

Question 4 2 out of 2 points

Which of the following would fall under Friedman's description of "steroids"?

Answers: Netscaping

Smart phones

Walmart Stores

Pharmaceuticals

Question 5 2 out of 2 points

What is meant by globalization?

Answers: A movement towards international socialism

The development of regional governments

The increasing use of the Internet

The worldwide integration among financial, economic, trade and

communication sectors

Question 6 2 out of 2 points

In the globalized world, what word describes how power is exercised?

Answers: Cooperation

Coercion

Global Power

Soft Power

Question 7 2 out of 2 points

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In terms of working together, which reflects the highest and most effective level of achieving
results in the global world?

Answers: Cooperation

Communication

Coordination

Collaboration

Question 8 2 out of 2 points

Soft Power acknowledges the growing effectiveness of which of the following?

Answers: Drones

Cyber warfare

Persuasion over force

None of the above

Question 9 2 out of 2 points

What were the seminal events that Friedman believes ushered in a new world?

Answers: The 2008 financial crises

The instability in the Middle East

End of the cold war and growth of the Internet

The growth of smartphones

Question 10 2 out of 2 points

Friedman describes three thought paradigms of human economic activity throughout

history. The first two are the agricultural age, and industrial age, what is the third?

Answers: Globalization

Internet browsing

Technology age

Military age

2 out of 2 points

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Question 11

Friedman refers to the following entities when describing, "informing"?

Answers: Higher education entitites

Google, Yahoo and Microsoft Search

FBI, NSA, CIA

Verizon wireless and AT&T

Question 12 2 out of 2 points

Which of the statements below is most accurate in distinguishing between power and
force?

Answers: Force is authority whereas power indicates influence

Force allows you to have power over others

Power is authority and legitimacy whereas force indicates lack of power

Power equals control and force indicates power and influence

Question 13 2 out of 2 points

What is meant by the term Lobbying?

Answers: An informal power relationship

Special interests that try to influence decision makers

Private sectors pay the government for access to public officials

Corrupt politicians

Question 14 2 out of 2 points

What is meant by the term "revolving door"?

Answers: When lobbyist continue to visit the same public officials over and over again

Picking legislators to serve on committees that have something to do with the

groups that lobby them 

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When high-ranking public officials are hired from the industries that they will
regulate, and then later return to those same industries

None of the above

Question 15 2 out of 2 points

Which best explains the concept "economic growth"?

Answers: Concerned with reducing taxes

Concerned with raising taxes

Concerned with wealth enhancement (market productivity)

Concerned with growing the population

Question 16 2 out of 2 points

Which would not be one of the three economic development stategies?

Answers: Entrepreneurial strategies

Budgeting

Industrial recruitment

Privatization

Question 17 2 out of 2 points

In critiquing mercantilism, Adam Smith recognized what 3 factors that contribute to

production?

Answers: Output, labor and land

Growth, development and industrial recruitment

Land, labor and capital

None of the above

Question 18 2 out of 2 points

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An indicator of relative economic strength is called..

Answers: Recession

Monetary policy

Sequestration

GDP

Question 19 2 out of 2 points

Which is not a tool of economic development?

Answers: Health care

Public borrowing

Federal resources

Ombudsman

Question 20 2 out of 2 points

When one country is more efficient than another in a type of product or service and another
country has an advantage in a second project. This is callled?

Answers: Comparative advantage

Mercantilism

Absolute advantage

Free trade advantage

Question 21 2 out of 2 points

Which of the following concepts do not correspond with "comparative advantage"?

Answers: Concentrates on the benefits of trade even if a country cannot compete on

specific products.

Aids in enhancing specialization

Economist, Adam Smith

Economist, David Riccardo

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