William Faulkner Essay -- essays research papers

Faulkner grew up in Mississippi in the beginning of the twentieth century ('William Faulkner'; 699). He was the son to Murray C. and Maud Butler Faulkner (Hoffman 13). Growing up in the South in the early 1900's meant being exposed to harsh racism. He watched the blacks endure unbelievable amounts of cruelty and was amazed at how the blacks conducted themselves with such dignity. He witnessed, first hand, what discrimination is and could not comprehend why this goes on. In many of Faulkner's works I found that he portrayed blacks as quite,easy-going, well-tempered people. He attempted to show them as heroes. It is my belief that Faulkner writes about the south because that is the subject that has affected his life most. Faulkner's 'Barn Burning'; takes place in the late nineteenth century South. Primarily a story about the relationship between father and son, the story presents itself through the use of symbolism. The most vital sign being fire. The fire is much like the main character in the story, Abner. Both Abner and the fire are uncontrollable and destroy anything in its way, having respect for nothing. Sarty, Abner's son, dislikes what his father does out of acts of hate and tries to stop it (Faulkner 'Barn'; 23). He attempts to put out the 'fire'; inside his father. He is sick of his family's way of life and is ready for a change no matter what it takes, even if it means going against his own blood. No matter what is done, they can not stop Abner from lashing out and burning buildings. Through his sheer enjoyment of the negative sides of his anger and power, Abner rips his family apart. He does so by forcing his family to put up with the consequences of his actions. In a way, Faulkner wr ites as a moralist. He demonstrates, through his character Abner, why a reasonable approach to adversity and letdowns is necessary, to avoid allowing one's problems to get so bad that they can engulf the subject like an inferno. In this story Mrs. DeSpain's 'nigger'; acts loyally and tries to save his owner's animals from the fire that were in the barn. Faulkner's book 'Intruder in the Dusk,'; is the story of a Negro, Lucas Beauchamp, who is wrongfully accused of murder by many whites in the town of Jefferson Mississippi. Instead of telling everyone that he not the murderer, he actually pretends to be the killer and wishes to be innocent... ...and half-Negro (Faulkner 'Bear'; 65). The theme of this particular story is Ike maturing and following his southern traditions. He grew up to become an excellent hunter that showed respect for his fellow hunters as well as the wilderness. As John Lyndenberg wrote, 'The hunters from Jefferson are gentlemen and sportsmen, representing the ideals of the old order at its best, the honor,dignity, and courage of the South'; (Lyndenberg 385). As hard as it may be at times to read Faulkner's writings, I believe that it is well worth the effort. I found some of his writings, particularly his early ones, difficult to understand because he sometimes changes tense in the middle of a sentence and he also seems to enjoy writing with a Southern accent which does not make his writings any easier to read. For example in 'The Bear'; and in "Barn Burning,'; Faulkner consistently uses 'hit'; instead of 'it.'; He has a very down to Earth theme throughout his works: The theme being the coming of age type issue. All the stories I wrote about contain this maturing theme in one way or another. Faulkner is both a writer and a teacher-there is much to learn from his works.

Econ 1a

Student: 1. Which of the following is a distinguishing feature of a command system? A. private ownership of all capital. B. central planning. C. heavy reliance on markets. D. wide-spread dispersion of economic power. 2. Which of the following is a distinguishing feature of a market system? A. public ownership of all capital. B. central planning. C. wide-spread private ownership of capital. D. a circular flow of goods, resources, and money. 3. Examples of command economies are: A. The United States and Japan. B. Sweden and Norway. C. Mexico and Brazil. D. Cuba and North Korea. 4. Of the following countries, which one best exhibits the characteristics of a market economy? A. Canada. B. Cuba. C. North Korea. D. China. 5. The French term â€Å"laissez-faire† means: A. â€Å"there is no free lunch. † B. â€Å"let it be. † C. â€Å"circular flow. † D. â€Å"public ownership. † 6. An economic system: A. requires a grouping of private markets linked to one another. B. is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem. C. requires some sort of centralized authority (such as government) to oordinate economic activity. D. is a plan or scheme that allows a firm to make money at some other firm's expense. 7. The term laissez-faire suggests that: A. land and other natural resources should be privately owned, but capital should be publicly owned. B. land and other natural resources should be publicly owned, but capital should be privately owned. C. government should not interfere with the operation of the economy. D. government action is necessary if the economy is to achieve full employment and full production. 8. Economic systems differ according to which two main characteristics? A. Who owns the factors of production, and the methods used to coordinate economic activity. B. The technology used in production, and the quantity and quality of natural resources. C. How goods are produced, and who gets them. D. The political system in place, and the degree of scarcity facing the economy. 9. Command systems are also known as: A. market systems. B. pure capitalism. C. laissez-faire capitalism. D. communism. 10. A fundamental difference between the command system and the market system is that, in command systems: A. the division of output is decided by central planning rather than by individuals operating freely through markets. B. all economic decisions are made by the government, whereas there is no government in a market system. C. scarcity does not exist, whereas it does in a market system. D. money is not used, whereas it is in a market system. 11. Which of the following is not a characteristic of the market system? A. private property. B. freedom of enterprise. C. government ownership of major industries. D. competition in product and resource markets. 12. Which of the following is a fundamental characteristic of the market system? A. property rights. B. central planning by government. C. unselfish behavior. D. government-set wages and prices. 13. Property rights are important because they: A. ensure an equal distribution of income. B. encourage cooperation by improving the chances of mutually agreeable transactions. C. guarantee that any exchange will make all parties better off than prior to the exchange. D. allow the government to control how resources are allocated. 14. Private property: A. discourages cooperation because people don't want to part with what they own. B. discourages innovation, as people are often afraid to risk losing their own property. C. encourages owners to maintain or improve their property, so as to preserve or enhance value. D. does everything indicated by the other answers. 15. Copyrights and trademarks are examples of: A. capital goods. B. human capital. C. property rights. D. public goods. 16. The regulatory mechanism of the market system is: A. self-interest. B. private property. C. competition. D. specialization. 17. Broadly defined, competition involves: A. private property and freedom of expression. B. independently acting buyers and sellers and freedom to enter or leave markets. C. increasing opportunity costs and diminishing marginal utility. D. capital goods and division of labor. 18. Competition means that: A. sellers can manipulate market price by causing product scarcities. B. there are independently-acting buyers and sellers in each market. C. a product can be purchased at a number of different prices. D. there is more than one seller in a market. 19. The division of labor means that: A. labor markets are geographically segmented. B. unskilled workers outnumber skilled workers. C. workers specialize in various production tasks. D. each worker performs a large number of tasks. 20. Specialization in production is important primarily because it: A. results in greater total output. B. llows society to avoid the coincidence-of-wants problem. C. allows society to trade by barter. D. allows society to have fewer capital goods. 21. Specialization-the division of labor-enhances productivity and efficiency by: A. allowing workers to take advantage of existing differences in their abilities and skills. B. avoiding the time loss involved in shifting from one production task to another. C. allowing workers to develop skills by working on one, or a limited number, of tasks. D. all of the means identified in the other answers. 22. Specialization in production is economically beneficial primarily because it: A. llows everyone to have a job which they like. B. permits the production of a larger output with fixed amounts of resources. C. facilitates trade by bartering. D. guarantees full employment. 23. On the basis of the above information it can be said that: A. no coincidence of wants exists between any two states. B. a coincidence of wants exists between Michigan and Washington. C. a coincidence of wants exists between Texas and Washington. D. a coincidence of wants exists between Michigan and Texas. 24. On the basis of the above information and assuming trade occurs between the three states we can expect: A. Washington to exchange apples with Texas and receive money in return. B. Washington to exchange apples with Michigan and receive money in return. C. Texas to exchange lettuce with Michigan and receive autos in return. D. Texas to trade lettuce directly for Washington apples. 25. Given the above information and assuming trade occurs between the three states we can expect: A. that there is no means by which Michigan can obtain lettuce while specializing in the production of autos. B. that money will not be needed to accomplish the desired exchanges. C. money to flow counterclockwise from Michigan to Texas to Washington. D. money to flow clockwise from Michigan to Washington to Texas. 26. Barter: A. is the major means of exchange in centrally planned economies. B. accounts for over 30 percent of the dollar volume of all exchange in the U. S. economy. C. entails the exchange of goods for goods. D. is used to circumvent the problem of a lack of coincidence of wants among potential buyers and sellers. 27. The â€Å"coincidence of wants† problem associated with barter refers to the fact that: A. for exchange to occur each seller must have a product that some buyer wants. B. money must be used as a medium of exchange or trade will never occur. C. specialization is restricted by the size or scope of a market. D. buyers in resource markets and sellers in product markets can never engage in exchange. 28. The use of money contributes to economic efficiency because: A. governmental direction of the production and distribution of output can be avoided by using money. B. roundabout production could not occur without the availability of money. C. it is necessary for the creation of capital goods. D. it promotes specialization by overcoming the problems with barter. 29. The presence of market failures implies that: A. oney is not an effective tool for exchange in a market system. B. there is an active role for government, even in a market system. C. individuals and firms should strive to be self-sufficient rather than specialize. D. command systems are superior to market systems in the allocation of resources. 30. Which of the following characteristics is least unique to a market system? A. private ownership of property resources B. competition among buyers and sellers pursuing monetary returns C. the widespread use of money D. freedom of enterprise and choice 31. Which of the following is one of the Five Fundamental Questions? A. Which products will be in scarce supply and which in excess supply? B. Who should appoint the head of the central bank? C. How much should society save? D. What goods and services will be produced? 32. If competitive industry Z is making substantial economic profit, output will: A. fall in industry Z, and firms will likely leave the market. B. fall in all industries except industry Z. C. expand in industry Z, as more resources will move to that industry. D. expand in industry Z, but no new firms will enter the market. 33. From society's point of view the economic function of profits and losses is to: A. romote the equal distribution of real assets and wealth. B. achieve full employment and price level stability. C. contribute to a more equal distribution of income. D. reallocate resources from less desired to more desired uses. 34. In a market economy a significant change in consumers' desire for product X will: A. alter the profits or losses received by suppliers of product X. B. cause a reallocation of scarce resources. C. cause some industries to expand and others to contract. D. do all of these. 35. Economic profits in an industry suggest the industry: A. can earn more profits by increasing product price. B. should be larger to better satisfy consumers' desire for the product. C. has excess production capacity. D. is the size that consumers want it to be. 36. Economic profits and losses: A. are both considered by economists to be a part of production costs. B. are essential to the reallocation of resources from less desired to more desired goods. C. have no influence on the composition of domestic output. D. equalize the distribution of income in the long run. 37. If consumer desire for product X increases, all of the following will occur except: A. an increase in the profits of industry X. B. n increase in the quantity of resources employed by industry X. C. an increase in the output of industry X. D. a decrease in the quantity of resources employed in industry X. 38. An increase in consumer desire for strawberries is most likely to: A. increase the number of strawberry pickers needed by farmers. B. reduce the supply of strawberries. C. reduce the number of people willing to pick strawberries. D. reduce the need for strawberry pickers. 39. If competitive industry Y is incurring substantial losses, output will: A. expand as resources move toward industry Y. B. contract as resources move toward industry Y. C. contract as resources move away from industry Y. D. expand as resources move away from industry Y. 40. The economic function of profits and losses is to: A. bring about a more equal distribution of income. B. signal that resources should be reallocated. C. eliminate small firms and reduce competition. D. tell government which industries need to be subsidized. 41. If a competitive industry is neither expanding nor contracting, we would expect: A. total revenue to be zero. B. economic profits to be zero. C. total opportunity cost to be zero. D. more resources to flow to that industry. 42. The competitive market system: A . encourages innovation because government provides tax breaks and subsidies to those who develop new products or new productive techniques. B. discourages innovation because it is difficult to acquire additional capital in the form of new machinery and equipment. C. discourages innovation because firms want to get all the profits possible from existing machinery and equipment. D. encourages innovation because successful innovators are rewarded with economic profits. 43. In a market economy the distribution of output will be determined primarily by: A. consumer needs and preferences. B. the quantities and prices of the resources that households supply. C. government regulations that provide a minimum income for all. D. a social consensus as to which distribution of income is most equitable. 44. The most efficient combination of resources in producing a given output is the combination that: A. comes closest to using the same quantities of land, labor, capital, and entrepreneurial ability. B. can be obtained for the smallest money outlay. C. uses the smallest total quantity of all resources. D. conserves most on the use of labor. 45. Firms are motivated to minimize production costs because: A. t is the most environmentally friendly way to produce goods. B. least-cost production techniques use the smallest total quantity of resources. C. competitive pressures in the market will drive out higher-cost producers. D. the government provides tax credits and subsidies to low-cost producers. Answer the next question(s) using the following data which show all available techniques for producing 20 units of a particular commodity: 46. Refer to the above data. In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s): A. # 1. B. #2 and # 4. C. # 3. D. #1 and # 3. 47. Refer to the above data. Assuming that the firm is motivated by self-interest and that the 20 units which can be produced with each technique can be sold for $2 per unit, the firm will: A. realize an economic profit of $ 10. B. realize an economic profit of $ 4. C. not earn any economic profit. D. shutdown rather than incur a loss by producing. 48. Refer to the above data. If a new production technique is developed that enables a firm to produce 20 units of output with 3 units of land, 3 of labor, 1 of capital, and 2 of entrepreneurial ability, this technique would: A. not be adopted because, although it reduces production costs, it does not increase profit. B. be adopted because it would lower production costs and increase economic profit. C. not be adopted because it entails higher production costs than other available techniques. D. be adopted, even though economic profits would be reduced slightly. Answer the next question(s) on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively. 49. Refer to the above information. Which technique is economically most efficient in producing A? A. I B. II C. III D. IV 50. Refer to the above information. If the price of product A is $0. 50, the firm will realize: A. an economic profit of $ 4. B. an economic profit of $ 2. C. an economic profit of $ 6. D. a loss of $ 3. 51. In a competitive market economy firms select the least-cost production technique because: A. such choices will result in full employment of available resources. B. to do so will maximize the firms' profits. C. this will prevent new firms from entering the industry. D. â€Å"dollar voting† by consumers mandates such a choice. 52. The market system's answer to the fundamental question â€Å"What will be produced? † is essentially: A. â€Å"Goods and services that are profitable. † B. â€Å"Low cost goods and services. † C. â€Å"Goods and service that can be produced using large amounts of capital. † D. â€Å"Goods and services that possess lasting value. † 53. The market system's answer to the fundamental question â€Å"How will the goods and services be produced? † is essentially: A. â€Å"With as much machinery as possible. † B. â€Å"Using the latest technology. † C. â€Å"By exploiting labor. D. â€Å"Using the least-cost production techniques. † 54. The market system's answer to the fundamental question â€Å"Who will get the goods and services? † is essentially: A. â€Å"Those willing and able to pay for them. † B. â€Å"Those who physically produced them. † C. â€Å"Those who most need them. † D. â€Å"Those who get utility from them. † 55. The market system's answer to the fundamental question â€Å"How will the system accommodate change? † is essentially: A. â€Å"Through government leadership and direction. † B. â€Å"Through the guiding function of prices and the incentive function of profits. † C. Through training and retraining programs. † D. â€Å"Through trial and error. † 56. The market system's answer to the fundamental question â€Å"How will the system promote progress? † is essentially: A. â€Å"Through government funded research programs. † B. â€Å"Through redistribution of income to promote greater equality. † C. â€Å"Through training and retraining programs. † D. â€Å"Through the profit potential that encourages development of new technology. † 57. The advent of DVDs has virtually demolished the market for videocassettes. This is an example of: A. creative destruction. B. derived demand. C. apital accumulation. D. the difference between normal and economic profits. 58. â€Å"Consumer sovereignty† refers to the: A. fact that resource prices are higher than product prices in capitalistic economies. B. idea that the pursuit of self-interest is in the public interest. C. idea that the decisions of producers must ultimately conform to consumer demands. D. fact that a Federal agency exists to protect consumers from harmful and defective products. 59. The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy. This statement best describes the concept of: A. derived demand. B. consumer sovereignty. C. the invisible hand. D. market failure. 60. Which of the following is not one of the five fundamental questions? A. What prices will be charged for goods and services? B. Who will get the goods and services? C. What goods and services will be produced? D. How will the system promote progress? 61. â€Å"Consumer sovereignty† means that: A. buyers can dictate the prices at which goods and services will be purchased. B. advertising is ineffective because consumers already know what they want. C. uyers control the quality of goods and services through regulatory agencies. D. buyers determine what will be produced based on their â€Å"dollar votes† for the goods and services offered by sellers. 62. Which of the following best describes the invisible-hand concept? A. The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. B. The non-substitutability of resources creates a conflict between private and public interests and calls for government intervention. C. The market system is the best system for overcoming the scarce resources-unlimited wants problem. D. Central direction by the government will improve resource allocation in a capitalistic economy. 63. The invisible hand refers to the: A. fact that the U. S. tax system redistributes income from rich to poor. B. notion that, under competition, decisions motivated by self-interest promote the social interest. C. tendency of monopolistic sellers to raise prices above competitive levels. D. fact that government controls the functioning of the market system. 64. The invisible hand concept suggests that: A. market failures imply the need for a national economic plan. B. ig businesses are inherently more efficient than small businesses. C. the competitiveness of a capitalistic market economy invariably diminishes over time. D. assuming competition, private and public interests will coincide. 65. Two major virtues of the market system are that it: A. allocates resources efficiently and allows economic freedom. B. results in an equitable personal distribution of income and always maintains full employment. C. results in price level stability and a fair personal distribution of income. D. eliminates discrimination and minimizes environmental pollution. 66. The market system: A. produces considerable inefficiency in the use of scarce resources. B. effectively harnesses the incentives of workers and entrepreneurs. C. is not consistent with freedom of choice in the long run. D. has slowly lost ground to emerging command systems. 67. According to the concept of the â€Å"invisible hand,† if Susie opens and operates a profitable childcare center, then: A. government should regulate the business to ensure quality. B. the profit Susie earns indicates that she is overcharging for her services. C. she has served society's interests by providing a desired good or service. D. his demonstrates that consumer sovereignty is not present in this market. 68. The invisible hand promotes society's interests because: A. individuals pursuing their self-interest will try to produce goods and services that people in society want and are willing to purchase. B. individuals will produce goods for others out of concern for their fellow human beings. C. it makes sure that everyone wins from competition in the market. D. government regulation pushes business into producing the right mix of goods and services. 69. The coordination problem in the centrally planned economies refers to the idea that: A. lanners had to direct required inputs to each enterprise. B. the price level and the level of employment were inversely related. C. the immediate effect of more investment was less consumption. D. exports had to be equal to imports for a central plan to work. 70. â€Å"Under central planning, some group has to decide how to get the necessary inputs produced in the right amounts and delivered to the right places at the right time. This is a nearly impossible task without markets and profits. † This quotation best identifies the: A. incentive problem under central planning. B. oordination problem under central planning. C. self-sufficiency dilemma under communism. D. resource over-commitment problem under communism. 71. â€Å"Because the outputs of many industries are the inputs to other industries, the failure of any single industry to fulfill the output quantities specified in the central plan caused a chain-reaction of adverse repercussions on production. † This quotation best identifies the: A. incentive problem under central planning. B. self-sufficiency dilemma under communism. C. resource over-commitment problem under communism. D. coordination problem under central planning. 72. The incentive problem under communist central planning refers to the idea that: A. planners had to direct required inputs to each enterprise. B . workers, managers, and entrepreneurs could not personally gain by responding to shortages or surpluses or by introducing new and improved products. C. the immediate effect of more investment was less consumption. D. exports had to be equal to imports for a central plan to work. 73. Suppose that an individual sees a tremendous opportunity to produce and sell a new product, but dismisses the idea because there is no way to exploit this opportunity for personal gain. This situation best identifies the: A. coordination problem under communist central planning. B. self-sufficiency dilemma under communism. C. asymmetric information problem under communism. D. incentive problem under communist central planning. 74. Innovation lagged in the centrally planned economies because: A. there was too much domestic business competition. B. there was too much competition from foreign firms. C. enterprises resisted innovation in fear that their production targets would be raised. D. exports had to equal imports for the plan to work. 75. The fact that the major indicator of enterprise success in the Soviet Union and pre-reform China was the quantity of output implied that: A. product quality was neglected. B. production costs were minimized. C. product-mix met consumer needs. D. technological advance was too rapid. 76. Enterprise managers and workers in the Soviet Union often resisted innovations in production methods because: A. production targets were often increased when innovation occurred. B. there was a chronic shortage of computers. C. workers could not be reallocated geographically. D. innovations ordinarily increased dependence on world markets. 77. If products were in short or surplus supply in the Soviet Union: A. price and profit signals eliminated those shortages and surpluses. B. price and profit signals intensified those shortages and surpluses. C. producers would not react because no price or profit signals occurred. D. the planners would immediately adjust production to achieve equilibrium. 78. In what type of business do the owners bear no personal financial responsibility for the company's debts and obligations? A. Partnerships. B. Corporations. C. Sole proprietorships. D. In all of the businesses listed in the other answers. 79. The simple circular flow model shows that: A. households are on the buying side of both product and resource markets. B. businesses are on the selling side of both product and resource markets. C. households are on the selling side of the resource market and on the buying side of the product market. D. businesses are on the buying side of the product market and on the selling side of the resource market. 80. The two basic markets shown by the simple circular flow model are: A. capital goods and consumer goods. B. free and controlled. C. product and resource. D. household and business. 81. In the resource market: A. businesses borrow financial capital from households. B. businesses sell services to households. C. households sell resources to businesses. D. firms sell raw materials to households. 82. In the simple circular flow model: A. households are buyers of resources. B. businesses are sellers of final products. C. households are sellers of final products. D. there are real flows of goods, services, and resources, but not money flows. 83. Refer to the above diagram. Flow (1) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 84. Refer to the above diagram. Flow (2) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 85. Refer to the above diagram. Flow (3) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 86. Refer to the above diagram. Flow (4) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. oods and services. D. consumer expenditures. 87. In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market. A. product; financial B. resource; product C. product; resource D. capital; product 88. In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market. A. product; financial B. resource; product C. product; resource D. capital; product 89. Households and businesses are: A. both buyers in the resource market. B. both sellers in the product market. C. ellers in the resource and product markets respectively. D. sellers in the product and resource markets respectively. 90. Refer to the above diagram. Arrows (1) and (2) represent: A. goods and resources respectively. B. money incomes and output respectively. C. output and money incomes respectively. D. resources and goods respectively. 91. Refer to the above diagram. Arrows (3) and (4) represent: A. goods and services respectively. B. incomes and consumer expenditures respectively. C. resources and goods respectively. D. consumer expenditures and income respectively. 92. Refer to the above diagram. Arrows (1) and (3) are associated with: A. the money market. B. the resource market. C. the product market. D. international trade. 93. Which of the following best illustrates the circular flow model in action? A. Bobbie goes to work and builds cars, and uses the income she receives to buy food at the grocery store. B. Evan buys a new couch; the owner of the furniture store uses some of the money from the sale to pay her supplier, and uses the rest to take her family out to dinner. C. Boeing experiences a surge in orders for new airplanes, prompting the company to hire more workers. D. All of these answers illustrate the workings of the circular flow model. 94. (Consider This) In 1975, McDonald's introduced its Egg McMuffin breakfast sandwich, which remains popular and profitable today. This longevity illustrates the idea of: A. opportunity cost. B. upsloping supply. C. consumer sovereignty. D. specialization. 95. (Consider This) In 2000, McDonald's introduced its McSalad Shaker, which failed to catch on with the public and was subsequently dropped from the menu. This failure illustrates the idea of: A. consumer sovereignty. B. technological change. C. downsloping demand. D. specialization. 96. (Consider This) Since World War II: A. North Korea's command economy has significantly outperformed South Korea's market economy. B. South Korea's command economy has significantly outperformed North Korea's market economy. C. North Korea's market economy has significantly outperformed South Korea's command economy. D. South Korea's market economy has significantly outperformed North Korea's command economy. 97. (Consider This) North Korea's command economy: A. is one of the few remaining command economies. B. has grown much faster than South Korea since the two countries were divided after World War II. C. produces a per capita GDP of nearly $25,000. D. has undergone significant market reforms and is now one of the fastest growing economies. 98. (Last Word) According to economist Donald Boudreaux, the world's tens of billions of individual resources get arranged productively: A. because government has become highly effective at central planning. B. because private property encourages people to consider the alternative uses of their resources and select those that provide the most rewards. C. because people tend to be creative and orderly. D. through random trial and error. 99. Last Word) According to economist Donald Boudreaux: A. private property eliminates the possibility that resource arrangements will be random. B. the market system threatens to do irreparable harm to the world's ecosystem. C. arranging resources under the market system is much like shuffling a deck of cards. D. the market system works wondrously for advanced industrial nations but not for developing nations. 100. Market economies use capital goods because they improve productive efficiency. True False 101. Money functions as a medium of exchange by eliminating the need for a coincidence of wants. True False 102. Consumer sovereignty means that legislation now protects the rights of consumers to dispose of their incomes as they see fit. True False 103. Specialization may expand total output even though the individuals involved may have identical abilities. True False 104. The wants of consumers are expressed in the product market with â€Å"dollar votes. † True False 105. Costs can be defined as total payments made to workers, land owners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good. True False 106. Continued losses in an industry will cause some firms to reduce output or eventually leave the industry. True False 107. The guiding function of prices tends to keep resources flowing toward their most highly valued uses. True False 108. The invisible hand refers to the many indirect controls that the Federal government imposes in a market system. True False 109. Central planning in the Soviet Union and pre-reform China emphasized the expansion of the production of consumer goods to raise the domestic standard of living. True False 110. Central planning often suffers from a coordination problem and an incentive problem. True False ch02 Key1. B2. C3. D4. A5. B6. B7. C8. A9. D10. A11. C12. A13. B14. C15. C16. C17. B8. B19. C20. A21. D22. B23. A24. A25. C26. C27. A28. D29. B30. C31. D32. C33. D34. D35. B36. B37. D38. A39. C40. B41. B42. D43. B44. B45. C46. B47. A48. B49. D50. B51. B52. A53. D54. A55. B56. D57. A58. C59. B60. A61. D62. A63. B64. D65. A66. B67. C68. A69. A70. B71. D72. B73. D74. C75. A76. A77. C78. B79. C80. C81. C82. B83. A84. B85. C86. D87. C88. C89. C90. D91. B92. B93. D94. C95. A96. D97. A98. B99. A100. TRUE101. TRUE102. FALSE103. TRUE104. TRUE105. FALSE106. TRUE107. TRUE108. FALSE109. FALSE110. TRUE ch02Summary Category # of Questions AACSB: Analytic 72 AACSB: Reflective Thinking 38 Blooms: Level 1 Remember 36 Blooms: Level 2 Understand 51 Blooms: Level 3 Apply 18 Blooms: Level 4 Analyze 5 Difficulty: 1 Easy 36 Difficulty: 2 Medium 69 Difficulty: 3 Hard 5 Learning Objective: 02-01 Differentiate between a command system and a market system. 3 Learning Objective: 02-02 List the main characteristics of the market system. 25 Learning Objective: 02- 03 Explain how the market system decides what to produce; how to produce it; and who obtains it. 40 Learning Objective: 02-04 Discuss how the market system adjusts to change and promotes progress. 14 Learning Objective: 02-05 Describe the mechanics of the circular flow model. 16 McConnell – Chapter 02 115 Topic: Characteristics of the market system 25 Topic: Circular flow model 16 Topic: Demise of the command systems 13 Topic: Economic systems 10 Topic: Five fundamental questions 38 Topic: Invisible hand 8

The Impact of the French and Indian War on Colonial America

Nowitzky 1 Chris Nowitzky Professor Noyalas November 23,2011 U.S. History 121 The Impact of the French and Indian War on Colonial America The French and Indian war was fought between Great Britain and France from 1754 to 1763. Also known as the Seven Year’s War, this confrontation eventually erupted into an all out worldwide conflict. Its effects were not only immediate but long term. Although the colonies were not directly tied to the war, it greatly impacted them as well as modern America. The war was primarily fought along the colonies separating New France, from Virginia to Nova Scotia. France controlled the early part of the war, rounding up British forces. It wasn’t until 1757 that Britain truly threw all its resources†¦show more content†¦This enraged the colonist and made them rethink their political views. The Proclamation of 1763 also had a significant effect on the attitudes of the colonials towards the British. After the war and the Treaty of Paris, the Proclamation of 1763 was one of the first documents issued to govern the colonies. This proclamation simply stated that no further settlement beyond the Appalachian Mountains would be allowed. The colonists looked at the proclamation as putting an off limits sign on the Ohio River Valley which the whole war had started over. The Proclamation was actually misinterpreted by the colonist and Britain’s failure to clearly identify its intentions began the chain of events that led to the Ameri can Revolution. Each political step taken by the British after the French and Indian War drew Americans closer and closer to revolution. The British ideals slowly began to drift away from the American colonist’s ideals after the French and Indian War. The British had only one focus at the time and that was making money. All that King George III wanted from the colonies was pure profit to Britain. The colonies wanted all the freedoms and rights as they had in Britain and it was Nowitzky 4 felt that that wasn’t the best way to make money. Americans believed in liberty, peace, freedom, love and gratitude. They felt like they were supporting enough revenue back to Britain and that they should be given moreShow MoreRelatedImpact Of The French And Indian War On The British Government941 Words   |  4 PagesIV.The Impact on the British The impact of the French and Indian War on the British government was a positive move toward the dominance of Europe after the defeat of the French in terms of the colonization of North America. During this time, the British had incurred a massive military debt, which had to be paid over the long-term. To ensure that the British government did not take full responsibility for the debt, the British colonists were expected to pay back the debt burden through extremelyRead MoreThe French and Indian Wars Impact on America Essay examples1198 Words   |  5 PagesThe French and Indian Wars Impact on America At the peak of Britains prominence, it was said that the sun never sets on the British Empire. Many were enthralled under its wing of mighty protection and dare a country stand up to Britain and face the consequences. In 1755 the last of the great conflicts between the Britain and France broke out. Although initially proving its superiority, one of the main facets of the British Empire headed for a major transformation. So that is why I say theRead MoreThe Origins and Patterns of Development for the New World Essay example1096 Words   |  5 Pagesexchange of commodities across both sides of the Atlantic. 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Start with England declaring war on France, and ending with the Treaty ofRead MoreThe Causes of the Seven Years War1814 Words   |  7 PagesThe French and Indian war represents the generic notion for what is known in the history of the European continent as the Seven Years War. This war represented an important moment in the history of the United States, despite the fact that the actual confrontation and the political disputes had included the French and the British. Although the political matters were related to the colonial issues the two sides had on the European continent, the major battlefield in this sense were disputed in theRead MoreThe Impact Of Indians During The Colonial Americas Essay1411 Words   |  6 Pages The Impact of Indians in the Colonial Americas Many historians speculate that about 20,000 years ago Paleo-Indians migrated to America. How they made the journey is highly speculated as well. Some believe it was by a land bridge between Asia and Northern America while others believed the Paleo-Indians to have migrated via boat. However, how they arrived is not what matters, but what is important is that the Paleo-Indians made it to the Americas where they began establishing their own civilizationsRead More The French and Indian War Essay939 Words   |  4 Pagesforce of French and Indians ambushed British and colonial troops. This catastrophe was to ultimately become the starting point of the French and Indian War. During the â€Å"Seven Years War†, as the French and Indian War is commonly called, there were wins and losses on both sides, but ultimately the British were victorious with the help of William Pitt. However, the War caused England many economic, political, and ideological tribulations with the American coloni sts. In response to a French threat toRead MoreThe American Revolution1472 Words   |  6 Pagesdemonstrate the long downward spiral of British control in North America. This unraveling of relations began after the French and Indian War, aided by many costly decisions made by the British Parliament and individuals of power in the colonies. Although many factors after the French and Indian War effected the American revolution: The Treaty of Paris in 1763, proclamation line, and a staggering war debt accumulated throughout the long seven-year war all equated to declining relations due to differentiatingRead MoreCause and Effect of the Seven Years War in America1529 Words   |  7 Pagesin size and trade. This could not be done without intruding on French land. This caused France to take an offensive position alongside their Indian allies against their biggest rival. Britain and its colonies persisted forward resulting in The Seven Years’ War or, as some call it, The French and In dian War. The Seven Years’ War was caused by Britain’s need for expansion and resulted in devastating debt, the humiliation of the French, and soured relations between the British and its colonies ultimatelyRead MoreThe French and Indian War Essay823 Words   |  4 PagesThe French and Indian War was a conflict in North America in which Great Britain fought France and their Native American allies. It lasted from 1756 until 1763, so it was also known as the Seven Years War. At the peace conference in 1763, the British received Canada from France and Florida from Spain, but permitted France to keep its West Indian sugar islands and gave Louisiana to Spain. The treaty strengthened the American colonies significantly by removing their European rivals to the north and