Question 5
Read the passage I carefully and answer the questions that follow.
PASSAGE I
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. Adam smith , the Wealth of a Nation(1776). Pause for a moment to consider the paradoxical words above, penned in 1776 by Adam smith, the founder of modern economics. That same year was also marked by the American Declaration of Independence. It is no coincidence that both ides appeared at the same time. Just as the American revolutionaries were proclaiming freedom from tyranny, Adam smith was preaching a revolutionary doctrine emancipating trade and industry from the shackles of feudal aristocracy. in the last two centuries, most of the world experienced an era of unimagined [prosperity. in the United States and other high-income countries, most people today can afford to buy fer more than the bare necessities of food, clothing and fast air transportation to any part of the globe are examples of an astonishing range of goods and services that have become part of everyday life. Developing countries have also seen their standards of living rise rapidly in recent years. But widespread prosperity has not brought economic security. In an average year, 10 million
American lose their jobs and about 100,000 businesses go bankrupt. and 14percent of households are designed as poor, and the number is almost 50 percent among household headed by black female. Many families worry bout the catastrophe financial consequence of illness have no health insurance. The affluent society is an anxious society.
for most of human history, people who experience economic misfortunes lived on the mercy of their family and friends. Starting about a century ago, governments introduced the "welfare state",which provided social insurance and income support to needy people. Gradually, poor people in rich countries got access to minima; levels of income, food and health care. But raising taxes and growing government spending on health care and public pensions have produced a revolt of the middle class, which is the taxed class, in 1996 the United States removed its guarantee of income support for poor families. Everywhere, countries are rethinking the boundaries between state and market, trying to balance the growing need for providing public services with the increasing clamour for cutting taxes and shrinking government. This is the age of the global market place. Today, money, goods and information cross national borders more readily than ever before. in earlier times, we did business with people down the street or in the next town and we bought mainly local goods. Today, we ride the "world car". look at this world car or at a fast computer. it incorporates materials, labour, capital and innovations from around the world. the rise of the global market place raises new challenges. Who can best adapt to increased foreign competition? who can quickly adapt to the information age? The stakes are high. to the winners go the profits, while the losers lag behind.
PASSAGE I
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. Adam smith , the Wealth of a Nation(1776). Pause for a moment to consider the paradoxical words above, penned in 1776 by Adam smith, the founder of modern economics. That same year was also marked by the American Declaration of Independence. It is no coincidence that both ides appeared at the same time. Just as the American revolutionaries were proclaiming freedom from tyranny, Adam smith was preaching a revolutionary doctrine emancipating trade and industry from the shackles of feudal aristocracy. in the last two centuries, most of the world experienced an era of unimagined [prosperity. in the United States and other high-income countries, most people today can afford to buy fer more than the bare necessities of food, clothing and fast air transportation to any part of the globe are examples of an astonishing range of goods and services that have become part of everyday life. Developing countries have also seen their standards of living rise rapidly in recent years. But widespread prosperity has not brought economic security. In an average year, 10 million
American lose their jobs and about 100,000 businesses go bankrupt. and 14percent of households are designed as poor, and the number is almost 50 percent among household headed by black female. Many families worry bout the catastrophe financial consequence of illness have no health insurance. The affluent society is an anxious society.
for most of human history, people who experience economic misfortunes lived on the mercy of their family and friends. Starting about a century ago, governments introduced the "welfare state",which provided social insurance and income support to needy people. Gradually, poor people in rich countries got access to minima; levels of income, food and health care. But raising taxes and growing government spending on health care and public pensions have produced a revolt of the middle class, which is the taxed class, in 1996 the United States removed its guarantee of income support for poor families. Everywhere, countries are rethinking the boundaries between state and market, trying to balance the growing need for providing public services with the increasing clamour for cutting taxes and shrinking government. This is the age of the global market place. Today, money, goods and information cross national borders more readily than ever before. in earlier times, we did business with people down the street or in the next town and we bought mainly local goods. Today, we ride the "world car". look at this world car or at a fast computer. it incorporates materials, labour, capital and innovations from around the world. the rise of the global market place raises new challenges. Who can best adapt to increased foreign competition? who can quickly adapt to the information age? The stakes are high. to the winners go the profits, while the losers lag behind.
Guarantees of income support for the poor families was removed in the United State due to one of the following:
Objective