Law, Business and Society 11th Edition Test Bank

Prepare confidently with Law, Business and Society 11th Edition Test Bank, which includes a mix of multiple-choice questions and answers.

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Chapter 01–Capitalism and the role of governmentChapter 01Capitalism and the Role of GovernmentTrue/False Questions1. The American financial community’s near collapse in late 2008 had been most directlyignited by the subprime mortgage crisis.Answer: TrueAACSB:Analytical ThinkingBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-01 Describe capitalism and its relationship to individual rights.Topic: Capitalism Challenged: EconomicsFeedback: The American financial community’s near collapse in 2008 had been most directlyignited by the subprime mortgage crisis; a situation in which the nation’s housing bubbleburst and millions of Americans were no longer able to pay their home mortgages. Instead ofcontinuing their sometimes meteoric rise in value, those homes had plunged in price andmuch of the total real estate market had essentially imploded.2. Capitalism in America was built on the strong philosophical foundation of personalfreedom and private property rights.Answer: TrueAACSB:Analytical ThinkingBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-01 Describe capitalism and its relationship to individual rights.Topic: Purpose: What Do We Hope to Accomplish?Feedback: Capitalism in America was built on the strong philosophical foundation ofpersonal freedom and private property rights. Our great natural resources and personalambition led to extraordinary prosperity.3. Democratic capitalism and state capitalism trade with each other for mutual advantage butare economic and political rivals.Answer: TrueAACSB:Analytical ThinkingBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-02 Compare and contrast capitalism and collectivism.Topic: Too Much Capitalism? Or Too Little?Feedback: Democratic capitalism and state capitalism trade with each other for mutualadvantage but are economic and political rivals. Democratic capitalism in the United States,Japan, Denmark, and other nations favors business to create wealth and government toregulate as needed. State capitalism in countries such as China, Russia, and Saudi Arabiaemploys the market to build wealth, which, in turn, is controlled and distributed by the state

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Law, Business And Society by Tony M...

Law, Business and Society 11th Edition Test Bank

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