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What is "Automation"

process of substituting machiens for workers

in what industry did the dupont company get its start

gunpowder industry

characterize the nature of conglomerates

american innovation - emerged when several fledgling entrepreneurs began to assemble companies with separated divisions that were totally unrelated to eachother

what two industries did teh US continue to lead the world in during the 1980s

aircraft construction and computers

what was America's largest industry by the end of WWII

building military planes

what was teh cold war

rivalry between US and USSR - hostile and nonviolent

what european rival appeared to challenge the american aircraft industry in 1970s

eurobus plane - sponsored by several west european gov't

what is "cryptology" and what is its relationship to the development of computers

study fo creating and deciphering secret codes - led to increased research into building electronic machines that could process information at superhuman speeds

what american corporation is associated with the early development of computers?

sperry-rand corporation

what two regions of the US have specialized in high-tech indsutries

silicon valley in norther cali and boston, mas

waht is the latest concept with regard to automation

development of robots with many versatile capabilities of human beings

where is the bulk of middle eastern petroleum sold

western europe and japan

what do the initials OPEC shadn for

organization of petroleum exporting countries

what kind of products were typaclly produce in american manufacturing plants overseas?

american inventions - sewing machines and agricultural machinery - automobiles and home appliances

what was the first foreign automobile to receive widespread acceptance in teh american economy

german volkswagen

what percentage of american car sales do foreign automobiles account for

20-25%

how do most economists feel about erecting a tariff barrier

not in favor

what are arguments against erecting tarrifs

consumers benefit from free trade - lower prices imports = lower prices domestic goods - pressure from imports forces american forms to become more efficient

what are the main arguments supporting the erection of tariffs

use higher tariffs to reduce imports and protect jobs

characterize america's dependency on foreign energy soruces between 1920 and 1950

US not dependent on foreign energy sources - self sufficient

what happened to america's foreign energy dependency during teh 1970s and 1980s

greaty increased in 1970s then fell in 1980s

what is the so called "economic power triumvirate" int eh american economy

the power which is exercised by big business, big gov't, and big labor

whend did the federal gov't first began to give its support to union efforst to organize workers?

1930s

what happened to union membership between 1930 and 1970

cimbed from 3.5 mill to 20 million

what happened t union membership in the last 25 years

declined

what is probably the biggest source of increase in family income in recent years

increase in productivity due to more technology

characterize public relations attacks on unions during the 1920s

attacked verbally as "communist sympathizers" - linked labor activity with outbreak of violence in new reports and editorials

what was the wagner act, when was it passed, and what did it provide for

part of bill of NRA revived and strengthened with wagner act - 1935 - establishment of the national labor relations board

what is an industrial union

labor union made up of workers with different occupations and skill levels

who was the leader of the UMW

john l lewis

what is teh CIO and what gave birth to it

congress for industrial organizations - lewis and other UMW officials frustrated by AFL and joined independent unions

what was the CIOs operating strategy

challenge largest business firms hoping that victories would strengthen CIO

what was the name of te union organizeing workers in teh auto industyr

united automobile workers

whend id the AFL and CIO merge

1955

2 leanding personalities of merger of AFL and CIO

george meany and walter reuther

who was the leading organizer of the UAW

walter reuther

what are "cost of living escaltors"

atutomatic increases in wages baed on chagnes in cost of living stats

what is a common characteristic of high -income group of service workers

high level of educational achievement

prior to 1880 who performed most of the clerical work in the US

males

what technological innovation increased work of women in clerical jobs

typewriter

what are the factors accounting for increase in umber of married women holding jobs outside the home today

growth of service sector offered to women - decline in birth rate - socially acceptable to place kids in daycare - increase standard of living and acquire more luxuries

in what industry did helena rubinstein make her fortune

cosmetics industry

what is a workaholic

somebody who displays a compulsive need to work hard and for very long hours

who founded motown recoreds

berry gordy jr

what percentage of GNP does gov't expenditures currently account for

over 33%

what is the nations largest economic enterprise

big government

what is the main expenditure of state and local gov'ts

education

what was the main source of tax revenues fors tate and local gov'ts at the turn of the 20th century

property taxes

what is "revenue sharing"

practice of distributing a portion of federal income to state and city gov'ts

waht are the implications for policy making at the state level when a large percentage of state revenues come from Federal gov't grants

fed gives money and says what to use the money for so state doesnt have much of a say in things

what are the factors that have accounted for growth of teh social security system

expanded to cover new groups of workers - more people eligible - live span lenghtened - minimum age lowered - increaed benefits

in genreal how well received have the social security and medicare programs been by the american public

well received

how did the development of the atomic bomb affect military expenditures in the US

increased military expenditures

what is the "military-industrial complex"

symbiotic relationship between a nation's armed forces, its arms industry, and associated political and commercial interests - military dependent on insutry

which president warned americans about the influence of the military-industrial complex

Eisenhower

what percentage of the GNP did fed gov't expenditures account for by the mid 1980s

25%

what is the key explanation for the growth of the fed budget in modern times

search for security

waht kinds of "security" have americans demanded from their gov't in modern times

military security, security for senior citizens, public assistance to the unemployed and households w/ dependent children

what are "indirect taxes"

levied on goods or services instead of companies and individuals - sales taxes

how are indirect taxes "disguised" or "hidden"

consumers pay them in process of buying imorted goods or designated items - hidden in price of goods

what does it mean to say that an income tax is "progressive"

rate was not uniform but rose in stages as income increased

what is meant when someone says that a taxing system is based on the "ability to pay"

tax rate fairly increases as the amount to which the rate is applied increases

what did the supreme court ruling on income taxes force the nation to do

to find different ways to gather gov't revenue

what were some of the forces giving rise to the acceptability of the 16th amendment of the constitution

measure necessary to thwart demands for even more radical changes in american society - socialist party was growing

when was the consitution amended to allow the levying of income taxes

1913

what is the relationship between inflation and icome tax brackets

rapid inflation pushes citizens into higher tax brackets

how would 19th cent tax advocates feel about the tax structure in America today

would like it

what kind of incentive does the taxing of corporate profits have on teh accounting structure of corporations

gives incentives to accountants to try to avoid high taxes by understanding profits

what are 2 major arguments for eliminating the corporate income tax

corprations treat taxes as cost of doing business and lowering tax would lower prices for consumers -

why is the work of accountants and lawyers characterized as unproductive with regard to the assistance they provide corporations in preparing their tax returns and tax strategies

it contributes nothing to the output of useful goods and services

in what way is there a dual tax rate for social security

employees and employers have to pay percentage of total social security tax

what is the relevance of the public debt as a percentage of the GNP

gives us understanding of how much debt we have with regards to our gross output

how did president reagan's economic policies acount for the huge increase in the public debt

huge increases in public debt b/c of pledge to cut taxes and raise defense expenditures

how can one argue that president reagan practice keynesian economics

reliance on deficit spending to stimulate the economy

is the size of public debt today too high

no

what has been probably the most significant shortcoming in America's economic history

treatment of balck slaves

which nation hs the worlds largest GNP

USA

what does it mean to say that the US has "witnessed relative econmic decline" in recent years

US position in global economy has decreased

what evidence can we turn to when illustrating the improved housing situation in america?

number of people in households decleaned while sq foot of homes increased -

do americans have the highest standard of medical care in the world

no

how much better off economically are americans today compared to their colonial ancestors

8-10 times higher

does the US have the highest per capita income in the world today

no

why is it possibly misleading to compare different nation's relative individual economic well-being by looking at per capita incomes?

per capita incomes may not be evenly distributed among its population

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