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30 Cards in this Set

  • Front
  • Back

The deficits occurring during the Obama administration differ from those occurring during the George W. Bush administration primarily because the Obama-era deficits result more from:

Deficit spending

President Obama's proposals to deal with the financial services industry:

Leave in place the very regulators whose oversight failed because they were too cozy with the banks.

John Maynard Keynes believed the major cause of the great depression was:

Inadequate consumer demand

The U.S. version of conservative Keynesianism did not include:

Nationalization of major industries.

In trying to prevent recession or trying to decrease the effects of recession, a president who sought to implement Keynesian policies would most likely:

Be willing to engage in deficit spending.

During the golden age of capitalism:

The U.S. economy benefited from the emergence of U.S. global dominance.

Stagflation:

Involved heightened unemployment.

There was a profound change in the American political economy during the progressive era. This change was composed of:

Demand for more intervention by the federal gov't to regulate business.

Market fundamentalism is not:

The eclipse of financial capital by industrial capital.

State and local gov't subsidies for railroad construction in the 19th century are best understood as an example of why:

The free market has always been a fiction.

Government regulation is:

Essential to the operation and survival of capitalism.

The Monopoly game metaphor refers to:

The assertion that market relations are completely voluntary.

The main component of structural bias of business in the political system is:

Business control over the means of production.

The term mobilization of bias refers to a situation in which:

The rules of the game tend to favor one group over another.

Capitalism is usually defined as a system in which:

Capital is privately owned and controlled.

Approx. What percentage of the U.S. Labor force are members of a labor union?

12%

What is one reason why business interests are sometimes thwarted in politics?

Companies have conflicting political interests.

What is a second reason why business interests are sometimes thwarted in politics?

Democratic procedures require policymakers to respond to many interests, not just those of business.

What is not a source of capitalist cohesion?

Attendance of public colleges and universities.

The competitive sector of the economy refers to:

Small businesses and firms.

The Great Compromise refers to Constitutional Convention concerning:

Representation in Congress.

The original Constitution decreed:

Senators would be chosen by state legislatures.

What is the idea that the ultimate and supreme source of political authority lies not with the rulers but with the citizens of a Republic?

Popular sovereignty.

The number of state electors in the Electoral College is determined by:

The sum of the state's members in the House and Senate.

The principal of majority rule:

Is applied in the U.S. to only a confined range of issues.

Substantive democracy refers to:

Whether all citizens have equitable chances to influence and control the making of decisions that affect them.

In discussing criteria for how well a representative democracy is working, the book does not say:

It's important to consider whether the reps. live in the same neighborhood as their constituents.

The Reagan revolution:

Resulted in republicans setting the main terms for public debate.

After the election of Barak Obama in 2008, people of color now:

Experience similar conditions as before the election of Barak Obama.

Global interdependence:

Increases U.S. power and vulnerability at one and the same time.