Term
|
Definition
| practiced in Sweden and Germany |
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|
Term
| state-directed capitalism and guided capitalism |
|
Definition
| current Pacific Rim capitalism as practiced in Japan, ROK, and ROC (former NIC's) |
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Term
|
Definition
| practiced by local economies in the PRC |
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Term
|
Definition
| practiced in former Yugoslavia, post WWII in mid 1970's |
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Term
|
Definition
| market capitalism with a substantial social safety net |
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Term
| capitalism (command capitalism to be exact) |
|
Definition
| a command form of this was practiced in Nazi Germany |
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Term
| laissez-faire capitalism or market capitalism |
|
Definition
| the opposite of command socialism |
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Term
|
Definition
| this economic form was only practiced in primitive, tribal economies. No modern form of this type of economy exists in modern time |
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Term
|
Definition
| Market allocation of resources and market distribution of output with state ownership of land and capital |
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Term
|
Definition
| the current governmental system in the PRC. Co-exists with PRC's version of capitalism |
|
|
Term
| laissez-faire capitalism or market capitalism |
|
Definition
| ranks highly in terms of freedom and allocative efficiency, but fares poorly in terms of intertemporal efficiency (sustainability) |
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Term
|
Definition
| this disallows government intervention into the economy |
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Term
|
Definition
| capital and land are property of households and businesses, not of government |
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Term
|
Definition
| conservatives do not believe this principle need be maintained |
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Term
|
Definition
| designates vast numbers of buyers and sellers, each insignificant |
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Term
|
Definition
| collusion, as practiced by oligopolists, is impossible if this exists |
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Term
|
Definition
| big businesses and labor unions both violate this |
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|
Term
| consistent with the practice of economic conservatism |
|
Definition
favoring elimination of the inheritance / "death tax" despite its violation of market justice. consider private property rights/freedom
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| consistent with the practice of economic liberalism |
|
Definition
proposing mandatory measures to protect labor, land, and/or consumers
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| consistent with the practice of economic conservatism |
|
Definition
opposing labor unions as detrimental to profits. Arguing consumers with suffer
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| consistent with the practice of economic liberalism |
|
Definition
categorizing labor unions as necessary "countervailing power blocs" to "big businesses"
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| consistent with the practice of economic conservatism |
|
Definition
promoting theories of Chicago and Austrian Schools, pro public choice theory
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| consistent with the practice of economic conservatism |
|
Definition
asserting that material-incentive is more important than preservation of competition
(consistent with the practice of economic conservatism or liberalism?) |
|
|
Term
| productive (static, economic) efficiency |
|
Definition
| greatest output from a given amount of input |
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Term
|
Definition
| combination of output society wants as dictated by "consumer sovereignty" |
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Term
|
Definition
| "invisible hand" determines this |
|
|
Term
| both greater egalitarianism and intertemporal efficiency |
|
Definition
| sought most by liberals, but criticized, or importance minimized, by conservatives |
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Term
|
Definition
| conserves land resources for future preservation or production |
|
|
Term
| both allocative and productive efficiencies |
|
Definition
| achieved if ppf and society preference are tangent |
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Term
|
Definition
| (John Kenneth Galbraith's) term for renovated/improved form of capitalism |
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Term
|
Definition
| based on 6 principals (Does not exist in reality) Static. |
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Term
|
Definition
| practiced in unbridled capitalism. Pursuance of profit motive dominates |
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Term
|
Definition
| as a result of unbridled capitalism, failings exist in this form and have not been eradicated or minimized by the state |
|
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Term
|
Definition
| an alliance of sectors (such as owners/managers, labor, government, banking) |
|
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Term
|
Definition
| industries with economies of scale such that a single firm can satisfy the total market demand at a lower cast than can multiple firms |
|
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Term
|
Definition
| exists if a single firm within a multi-firm industry holds the majority market share with that industry |
|
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Term
|
Definition
| can be authoritarian, liberal/conflict, or state-dictated as practiced in Nazi Germany, Sweden and Japan, respectively |
|
|
Term
|
Definition
| liberals consider this a market failure if it reduces "consumer sovereignty," yet conservatives consider it beneficial as a natural result of "survival of the fittest" |
|
|
Term
|
Definition
| middle to low income countries that borrow technology from the most advanced countries can "catch-up," gaining dramatic productivity gains. Fast-growing, moderate income economies may avoid some "R and D" costs by practicing this |
|
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Term
|
Definition
| T/F: Income equality increases as the numerator of the Gini coefficient becomes a larger number |
|
|
Term
|
Definition
| T/F: Income equality increases as the Lorenz curve moves closer to the 45 degree line |
|
|
Term
|
Definition
| T/F: Income equality increases as each quintile (20% of the population) moves closer to receiving 20% of total income |
|
|
Term
|
Definition
| T/F: Income equality increases as greater market justice is applied |
|
|
Term
|
Definition
| T/F: The higher the "few" firm concentration ratio, the lesser the competition. The market, however, may be termed contestable if the firms act as rivals, rather that collusively. Even liberal John Kenneth Galbraith could accept this form of imperfect competition if it was regulated and remained contestable. |
|
|
Term
|
Definition
| T/F: Allocative efficiency results from "consumer sovereignty" |
|
|
Term
|
Definition
| T/F: Herbert Spencer's "survival of the fittest" describes the rise of imperfect competition that automatically occurs during the operation of unbridled capitalism |
|
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Term
|
Definition
| T/F: Indicative planning is designed to function in parallel with, but not the the exclusion of the market. Governmental subsidies, fines, taxes and regulations can all be used to guide production, primarily by changing production costs |
|
|
Term
|
Definition
| T/F: The rationale for maintaining income inequality is economic motivation, material incentive |
|
|
Term
|
Definition
| T/F: According to market justice, equitable/fair distribution of income based on one's productive worth to society will automatically result; yet, the same competition results in lack of egalitarianism. Conservatives would applaud/accept this; liberals would criticize this |
|
|
Term
|
Definition
| According to Adam Smith, capitalism's "invisible hand" should result automatically in both the enhancement of individual wealth (since resource owners will sell their resources into the most lucrative channels) and the wealth of the economy as a while (since allocative efficiency is achieved) |
|
|
Term
|
Definition
| T/F: The U.S. government violates material incentive through regulations and taxation and violates market justice through transfers and progressive taxation. Regulations, taxation and income redistribution are inconsistent with laissez-faire |
|
|
Term
|
Definition
| T/F: Under social market capitalism, income redistribution is achieved via a complex social welfare system. Theoretically, in socialism, income would be equally distributed without such a social safety net |
|
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Term
|
Definition
| Hong Kong is categorized as the most free and Cuba and the DPRK as the least free, using the Economic Freedom Index |
|
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Term
|
Definition
| T/F: the lower the quintile ratio, the greater the inequality of income distribution. Using this ratio, Colombia at 20.3 has greater equality than does Cuba at 3.3 |
|
|
Term
|
Definition
| T/F: Adam Smith approved of big corporations, however, disapproved of labor unions |
|
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Term
|
Definition
| T/F: The impact of a disturbance on a single market and its subsequent automatic adjustment is called partial equilibrium. The full effect on all other markets, once all are automatically adjusted, is the general equilibrium. |
|
|
Term
|
Definition
| T/F: If contestable, imperfect competitors behave non-conclusively |
|
|
Term
|
Definition
| T/F: Transfers (for example, welfare) enhance the practice or market justice |
|
|
Term
|
Definition
| The maximum-criterion evaluates an economy on the condition of its median or mean inhabitant |
|
|
Term
|
Definition
| T/F: The collective consumption good/public goods are provided by governments of mixed market economies. Such goods would not be supplied sufficiently in free markets due to prohibitively excessive costs and excludability, the free rider problem. |
|
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Term
|
Definition
| T/F: The development of the corporate form, which dramatically increased the market share of individual firms, has contributed to the demise of competition and the rise of imperfect competition |
|
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Term
|
Definition
| T/F: Scandinavian and European nations often are parliamentary democracies having proportional representation of multiple parties |
|
|
Term
Prime Minister of Sweden
(Political Party = Moderate Party) |
|
Definition
| What is the title of Frederick Reinfeldt |
|
|
Term
President of ROC
(Political Party = Kuomintang) |
|
Definition
| What is the title of Ma Ying-jeou |
|
|
Term
Prime Minister of Japan
(Political Party = Liberal Democratic Party) |
|
Definition
| What is the title of Taro Aso |
|
|
Term
Prime Minister of the UK
(Political Party = Labour) |
|
Definition
| What is the title of Gordon Brown |
|
|
Term
President of ROK
(Political Party = Grand National Party) |
|
Definition
| What is the title of Lee Myung-bak |
|
|
Term
Supreme Leader of Iran
(Political Party = Islamic Republic Party) |
|
Definition
| What is the title of Ali (Hoseini-) Khamenei |
|
|
Term
President of Iran
(Political Party = Islamic Society of Engineers) |
|
Definition
|
|
Term
Prime Minister of South Korea (ROK)
(Political Party = Grand National Party) |
|
Definition
| What is the title of Han Seung-soo |
|
|
Term
Chancellor of Germany
(Political Party = CDU = Christian Democratic Union) |
|
Definition
| What is the title of Angela Merkel |
|
|
Term
President of PRC
(Political Party = Communist Party of China) |
|
Definition
| What is the title of Hu Jintao |
|
|
Term
President of Germany
(Political Party = CDU = Christian Democratic Union) |
|
Definition
| What is the title of Horst Koehler |
|
|
Term
"Dear Leader" of DPRK
(Political Party = Workers' Party of Korea) |
|
Definition
| What is the title of Kim Jong-II |
|
|
Term
President of Russia
(Political Party = Independent) |
|
Definition
| What is the title of Dimitri Medvedev |
|
|
Term
ROC
(Political Party = Communist Party of China) |
|
Definition
| Premier Wen is chief of what state and what is his political party? |
|
|
Term
ROC
(Political Party = Kuomintang) |
|
Definition
| Ma Ying-jeou is chief of what state and what is his political party? |
|
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Term
|
Definition
who would say, "Government intervention (in the form of fiscal and monetary policies) is advisable to stimulate the economy and stabilize and smooth out the business cycle
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
|
Term
|
Definition
who would say, "monetarism, Chicago School, libertarianism. Proposes that privatization of public goods provision should be rigorously pursued. Asserts that imperfect competitors are efficient and competitive, unless enforced by government restriction on entry"
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
|
Term
| David Ricardo, Classical School |
|
Definition
who would say, "Market capitalism is powerfully self-sustaining and government intervention aggravates fluctuations. The more recent Chicago school supports this approach as well."
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
|
Term
|
Definition
| who is the most liberal of the list: Milton Friedman, David Ricardo, John Maynard Keynes, Ludwig von Mises/Friedrich A. Hayek, or Ronald Coase |
|
|
Term
| Ludwig von Mises, Friedrich A. Hayek |
|
Definition
Who supported the views of the Austrian School
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
|
Term
|
Definition
who would say, "Property rights should be well defined and externalities automatically internalized." Tradable emissions permits would not be inconsistent with this attitude.
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
|
Term
| David Ricardo, Classical School |
|
Definition
who would say, "Static efficiency is less important that the dynamic success of capitalism. Entrepreneurs are the most important agents in the economy."
(Friedman, Ricardo, Keynes, von Mises/Hayek, Coase) |
|
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Term
|
Definition
| T/F: The text states the Cold War has given way to a Holy war. That is, the former conflict between market capitalism and command socialism is taking a backseat to the rise of the new traditional economy based on religious fundamentalism. |
|
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Term
|
Definition
| T/F: The caste system in India, illegal since 1947, and feudalism in earlier Europe are both examples of economies in which allocation of labor was a result of indicative planning. |
|
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Term
|
Definition
| T/F: The public choice sees the public sector as often efficient, and due to corruption in the private sector, often prefers state0run solutions to privatization and market solutions |
|
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Term
|
Definition
| T/F: Democracy and capitalism always co-exist. Both Hong Kong and Signapore are examples of this existence. Both are classified as liberal democracies. |
|
|
Term
|
Definition
| T/F: Inequality in income distribution increases as the Lorenz curve moves farther from the line of equality, the Gini coefficient rises, and the quintile ration increases |
|
|
Term
|
Definition
| T/F: The closes achievement of market capitalism was during the Industrial Revolutions in the U.S. and Britain during the mid/late 1800s |
|
|
Term
|
Definition
| T/F: Today, market capitalism exists strongly in Hong Kong, Switzerland, and New Zealand |
|
|
Term
|
Definition
| T/F: Ownership by religious groups include extensive ownership by the Roman Catholic Church in Western Europe (1000-1500) and theocratic state ownership in Iran since 1979 |
|
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Term
|
Definition
| Liberals favor lax enforcement of anti-trust laws; conservatives favor more vigorous enforcement |
|
|
Term
|
Definition
| T/F: Labor unions are strongest in market capitalistic economies, such as the U.S. |
|
|
Term
|
Definition
| T/F: Labor unions serve as the main political-economic base for Western European social democracies. As such, they often have political parties represent their interests in their parliaments |
|
|
Term
|
Definition
| T/F: Internalizing externalities means that those who generate externalities bear the costs and receive the benefits generated |
|
|
Term
|
Definition
| T/F: John Kenneth Galbraith coined the concept of "new industrial states," partly planned and partly marketized |
|
|
Term
|
Definition
| T/F: Eastern European nations and the U.S. pollute more per capita than do other economies |
|
|
Term
|
Definition
| T/F: NDE translates to "no democratic enterprises" |
|
|
Term
|
Definition
| T/F: The U.S. designates our relationship with Taiwan and Bhutan as "NDE" |
|
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Term
|
Definition
his labor theory of value was later used to support orthodox socialism
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
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Term
|
Definition
his philosophy provided the basis for Marx's historical materialism
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
|
Term
|
Definition
this textile mill owner was elected the first president of a British national trade/labor union
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
|
Term
|
Definition
initially described dialectic as a philosophical concept
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
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Term
|
Definition
social engineer, constructivist
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
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Term
|
Definition
the most opposed to industrialization and urbanization (recall hippie commune analogy)
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
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Term
|
Definition
a so-called "practical" social utopian and a member of the bourgeoistie
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
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Term
|
Definition
a Classical capitalist/political economist
(Hegel, Fourier, Owen, Ricardo, Saint-Simon) |
|
|
Term
|
Definition
"...the earth belongs to no one, but the fruits are for all"
(Rousseau, Bernstein, Plato/More, Engels) |
|
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Term
|
Definition
presented descriptions (prototypes) of fictitious utopian societies
(Rousseau, Bernstein, Plato/More, Engels) |
|
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Term
|
Definition
advocated the "enlightened" philosophy consistent with indigenous peoples
(Rousseau, Bernstein, Plato/More, Engels) |
|
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Term
|
Definition
revisionist socialist author, a theorist, post-Marx and post Engels
(Rousseau, Bernstein, Plato/More, Engels) |
|
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Term
|
Definition
classified indigenous economies as "private communisms"
(Rousseau, Bernstein, Plato/More, Engels) |
|
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Term
|
Definition
| its proponents called on the proletariat to "unite and hasten the revolution" |
|
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Term
|
Definition
| this form advocated society be rationally ordered, usually in small-scale communities, to the benefit of the least well-off |
|
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Term
|
Definition
| advocated gradualist approach through parliamentary democracy to make gains for the proletariat |
|
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Term
|
Definition
| refocusing on revolutionary expectations toward less developed countries |
|
|
Term
| participatory alternative |
|
Definition
| this form has workers in charge of choosing management |
|
|
Term
|
Definition
| advocated overthrow of the bourgeoisie |
|
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Term
|
Definition
| Mao and Stalin, but not Khrushchev |
|
|
Term
|
Definition
| USSR's sphere of influence over Cuba, Vietnam |
|
|
Term
| participatory alternative |
|
Definition
| Former Yugoslavia under Marshall Tito best resembled this |
|
|
Term
|
Definition
| THIS is to orthodox socialism as imperialism is to market capitalism |
|
|
Term
|
Definition
|
|
Term
| participatory alternative |
|
Definition
|
|
Term
| participatory alternative |
|
Definition
| perostrioka under Gorbachev |
|
|
Term
|
Definition
|
|
Term
|
Definition
| kleptocracy could be argued as a form of this |
|
|
Term
|
Definition
| Wassily Leontief illustrated this |
|
|
Term
|
Definition
| equivalent to the relative "price" determined by the state in an artificial (guess and check) market |
|
|
Term
|
Definition
| collectivist version of general equilibrium in which supply = demand |
|
|
Term
|
Definition
| survival assured despite lack of static and allocative efficiencies; no bottom line. An exception was the PRC's TVE's |
|
|
Term
|
Definition
| this is accentuated by a rising s/v |
|
|
Term
|
Definition
criticized collectivist state
(Barone, Lange, Engles, Hayek, von Mises, Lenin) |
|
|
Term
|
Definition
advocated central planning concept
(Barone, Lange, Engles, Hayek, von Mises, Lenin) |
|
|
Term
|
Definition
proposed/set forth theory of collectivist state
(Barone, Lange, Engles, Hayek, von Mises, Lenin) |
|
|
Term
| Friedrich A. Hayek (Nobel Price 1974) |
|
Definition
criticized central planning board concept
(Barone, Lange, Engles, Hayek, von Mises, Lenin) |
|
|
Term
|
Definition
referred to imperialism as the "highest stage of capitalism"
(Barone, Lange, Engles, Hayek, von Mises, Lenin) |
|
|
Term
|
Definition
for his first three years in power, he practiced command management and provided housing, electricity, food, postal services, and transportation free of charge
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
his NEP was somewhat revisionist, using markets and some limited private ownership, but state ownership of large-scale industry, including his electrification project
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
of the moderate wing of the Russian Social Democratic Party, followers were social reformers similar to those of Western Europe
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
practiced War Communism
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
of the more radical wing of the Russian Social Democratic Party, backed Lenin
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
During his tenure, the "scissor crisis" ensued-- agricultural prices fell and manufacturing prices rose
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
founded Red Army, considered a Marxist-Leninist
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
known for his super industrialization, five-year plans, and collectivization of agriculture
(Stalin, Bolshevik, Lenin, Menshevik, Trotsky) |
|
|
Term
|
Definition
the RTS (Russian Trading System) was first established during his tenure
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
Time Magazine's "Person of the Decade" (1980's)
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
his introduction of democratization threatened the nomenklatura
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
served as first President of the new Russian Federation
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
served as the General Secretary of the Soviet Party and as the last Premier of the USSR
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
used "Big Bang" liberalization for the post-Gorbachev era
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
aimed to modify the late 1980's socialistic economy
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
was considered a moderate despite the last ditch effort called 500 Days: Transistion to Market
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
his glasnot exposed inefficiency, pollution, corruption, alcoholism, prostitution
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
invaded Afghanistan and the former Yugoslavia [Czechoslovakia?], aimed to keep satellites in the Soviet sphere
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
during his first four years in office, both industrial production and agriculture output fell, 60% and 26%, respectively, worsening the monetary overhang
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
criticized by orthodox socialists as a revisionist practitioner
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
the Gaider Reforms were instituted during his time as President
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
established regional economic councils. His decentralization resulted in shorter lines and improved allocative efficiency
(Khrushchev, Yeltsin, Brezhnev, Putin, Gorbachev) |
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
| fixed capital (tools) = labor hours to make tools x sub wage |
|
|
Term
|
Definition
| variable capital (labor hours needed to product = product x subsistence wage) |
|
|
Term
|
Definition
|
|
Term
|
Definition
| man-made goods used in further production, equal to labor time needed to produce such "fixed" goods (hours valued in subsistence wage terms) |
|
|
Term
|
Definition
|
|
Term
|
Definition
| approximately equals subsistence wage |
|
|
Term
|
Definition
| equivalent to selling price |
|
|
Term
|
Definition
| value generated by worker, but taken by capitalist |
|
|
Term
|
Definition
|
|
Term
|
Definition
| During the Industrial Revolution, this increased, however an increased standard of living reduced the dialectic inherent in this term (do not put "s") |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... aimed to eliminate the dialectic between owners and workers |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... was a hybrid (combination) of capitalism and socialism, a version of market socialism |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... exercised labor participation in choice management |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... resulted in improved intertemporal efficiency, greater pollution-control, than did capitalism |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... allowed workers to choose employment |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... had state ownership of capital which was leased to the firms |
|
|
Term
|
Definition
| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... used decentralized markets |
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| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... had local government officials choose enterprise managers |
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| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... dramatically reduced the tendency to form monopolies relative to capitalism |
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| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... owned capital in a collectivist fashion and wages were a function of profit |
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| T/F: The participatory alternative as proposed by Janoslav Vanek and/or practiced in Marshall Tito's Yugoslavia... was more responsive and innovative than a capitalistic society |
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| T/F: The Soviet economy was a supply-abundant economy with flexible prices, determined by bureaucracy and altered frequently |
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| T/F: During the 1990's, a substantial number of negative value-added enterprises were discovered; that is, the value of the outputs was less than the value of the inputs |
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| T/F: Shortages of goods were sometimes eliminated by inflating prices and/or taxing goods in short supply |
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| Soviet labor markers were freer than Westerners assumed. The choice of occupation was left largely up to the workers, although the state indirectly maneuvered the ouput by structuring the education system to produce the preferred mix of occupations |
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| Consumers in the USSR could spend freely, however, the supply was limited and the choices few |
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| T/F: The lack of goods purchase at the end of the Soviet era left substantial balances in consumers' bank accounts. This excess of savings was termed "monetary overhang" |
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| T/F: "Control by the ruble" was the Gosbank's bookkeeping of firm's debits and credits that was used to determine if output targets were being met |
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| T/F: Agriculture is regarded as the one great success of the Soviet economy |
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| T/F: Soviet workers received pay largely by the hour or piecework, and had incentives, such as promotions or excursions, for high performance |
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| T/F: Soviet managers of state-owned enterprises resisted innovation and sought not to exceed targets |
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| T/F: Storming was a last minute fevered attempt to fulfill the output quotas on time |
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| T/F: Chronologically, the former USSR was headed by Stalin, Lenin, Brezhnev, and Khrushchev. Lenin was in power the longest |
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| T/F: The Stalin's teleological approach attempted to shape individual tastes and behavior according to political authority, rather than by the practice of "consumer sovereignty" |
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| T/F: During WWII, Stalin abandoned Lenin's materials balance plans |
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| T/F: Current Russians are required to save; the citizens of the former USSR were not |
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| Vladimir Putin is the current President of Russia |
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| T/F: The CIS has a greater number of independent states than the USSR had republics |
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| T/F: Yegor Gaider's reforms included a social safety net to deal with the unemployment that would result from rising productivity of labor and the shedding of excess labor |
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| In the new Russia during the early 1900's, small-scale privatization of shops, agricultural collectives, and apartments was slow and disastrous relative to voucher and cash privatization |
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| T/F: Management and workers were compensated with a generous share of ownership. The entire privatization program was criticized for skewing wealth toward these insiders |
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| T/F: Russia's FIG's are similar to ROK's chaebol and Japan's keiretsu, large bankled groups of closely-held, highly diversified businesses registered with the government that receive tax and other privileges |
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| T/F: Nikita Khrushchev was in power approximately concurrently with Presidents Eisenhower and Kennedy, Boris Yeltsin with President Clinton, and then Vladimir Putin with the current President Bush |
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| President of the Council of State of Cuba |
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| Felipe de Jesus Calderon Hinojosa |
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| North Korea (DPRK): General Secretary, Korean Workers' Party |
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| President of South Korea (ROK) |
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| Dmitry Anatolyevich Medvedev |
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| President of Taiwan (ROC) |
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| Queen of the United Kingdom (UK) of Great Britain |
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| People's Republic of China (Communist China) |
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| Democratic People's Republic of Korea |
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| Republic of China (Nationalist China)but really in Taiwan |
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| Cuba, Iran, North Korea, Taiwan, Bhutan |
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| What 5 nations are designated NDE? |
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| Vice President of China (PRC) |
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| Supreme Commander of North Korea (DPRK) |
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| Prime Minister of South Korea (ROK) |
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| Vice President of Taiwan (ROC) |
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| Premier of the State Council of the PRC |
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