Question 1

What is totalitarianism? Outline the four major types of totalitarian systems.

Accepted Answer

The opposite end of democracy is totalit

Question 2

In which of the following examples can the role of the cognitive pillar be identified?

Accepted Answer

A)  A firm being exposed after one of its employees turned whistleblower 
B)  A firm being punished for corporate espionage by the courts 
C)  A firm not being able to sell a certain product in a country due to the prevalent cultural beliefs 
D)  A firm outsourcing its jobs 
A)  A firm being exposed after one of its employees turned whistleblower 
B)  A firm being punished for corporate espionage by the courts 
C)  A firm not being able to sell a certain product in a country due to the prevalent cultural beliefs 
D)  A firm outsourcing its jobs

Question 3

Disabling formal institutes does not affect transaction costs.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true of private ownership?

Accepted Answer

A)  Firms are established by entrepreneurs, owners, and investors. 
B)  Management appointments are made by government officials and bureaucrats who may also use non-economic criteria. 
C)  Firm's objective would be to find a "fair" deal for all stakeholders. 
D)  Firms deemed "too big to fail" may be supported by taxpayer dollars indefinitely. 
A)  Firms are established by entrepreneurs, owners, and investors. 
B)  Management appointments are made by government officials and bureaucrats who may also use non-economic criteria. 
C)  Firm's objective would be to find a "fair" deal for all stakeholders. 
D)  Firms deemed "too big to fail" may be supported by taxpayer dollars indefinitely.

Question 5

Force majeure is a method of interpreting a statute by understanding the legislative history leading up to the adoption of that statute.

Accepted Answer

A) True 
 B)False

Question 6

_____ are legal rights awarded by government authorities to inventors of new products.

Accepted Answer

A)  Copyrights 
B)  Patents 
C)  Trade secrets 
D)  Trade marks 
A)  Copyrights 
B)  Patents 
C)  Trade secrets 
D)  Trade marks

Question 7

Contracts in civil law countries tend to be long and detailed compared to contracts in common law countries.

Accepted Answer

A) True 
 B)False

Question 8

Right-wing totalitarianism refers to the monopolization of power in the hands of a communist party.

Accepted Answer

A) True 
 B)False

Question 9

Islamic law is the only surviving example of a theocratic legal system that is formally practiced by some existing governments.

Accepted Answer

A) True 
 B)False

Question 10

_____ are exclusive legal rights of firms to use specific names,brands,and designs to differentiate their products from others.

Accepted Answer

A)  Patents 
B)  Trademarks 
C)  Copyrights 
D)  Trade secrets 
A)  Patents 
B)  Trademarks 
C)  Copyrights 
D)  Trade secrets

Question 11

The key role of institutions is to _____ in business transactions.

Accepted Answer

A)  reduce uncertainty 
B)  increase normative limits 
C)  increase opportunism 
D)  reduce resource costs 
A)  reduce uncertainty 
B)  increase normative limits 
C)  increase opportunism 
D)  reduce resource costs

Question 12

State ownership differs from private ownership in that in state ownership _____.

Accepted Answer

A)  maximizing profits is the sole objective of a firm 
B)  management appointments are made by owners and investors based on merit 
C)  protecting jobs and minimizing social unrest is the objective of a firm 
D)  managers' compensation is determined by competitive market forces 
A)  maximizing profits is the sole objective of a firm 
B)  management appointments are made by owners and investors based on merit 
C)  protecting jobs and minimizing social unrest is the objective of a firm 
D)  managers' compensation is determined by competitive market forces

Question 13

The cultural school of thought in economic development suggests that rich countries tend to be endowed with natural resources.

Accepted Answer

A) True 
 B)False

Question 14

Patents are exclusive rights of firms to use specific names and brands.

Accepted Answer

A) True 
 B)False

Question 15

Intellectual property specifically refers to _____ property.

Accepted Answer

A)  tangible 
B)  intangible 
C)  real 
D)  moveable 
A)  tangible 
B)  intangible 
C)  real 
D)  moveable

Question 16

Opportunism increases transaction costs.

Accepted Answer

A) True 
 B)False

Question 17

_____ are represented by laws,regulations,and rules.

Accepted Answer

A)  Normative institutions 
B)  Sociocultural institutions 
C)  Cognitive institutions 
D)  Formal institutions 
A)  Normative institutions 
B)  Sociocultural institutions 
C)  Cognitive institutions 
D)  Formal institutions

Question 18

Theocratic totalitarianism refers to the monopolization of political power in the hands of one religious party.

Accepted Answer

A) True 
 B)False

Question 19

Compare and contrast civil law,common law,and theocratic law.

Accepted Answer

Civil law is the oldest,most influential

Question 20

The common law tradition is mostly spread in non-English speaking countries.

Accepted Answer

A) True 
 B)False

What is totalitarianism? Outline the four major types of totalitarian systems.

In which of the following examples can the role of the cognitive pillar be identified?

Disabling formal institutes does not affect transaction costs.

Which of the following is true of private ownership?

Force majeure is a method of interpreting a statute by understanding the legislative history leading up to the adoption of that statute.

_____ are legal rights awarded by government authorities to inventors of new products.

Contracts in civil law countries tend to be long and detailed compared to contracts in common law countries.

Right-wing totalitarianism refers to the monopolization of power in the hands of a communist party.

Islamic law is the only surviving example of a theocratic legal system that is formally practiced by some existing governments.

_____ are exclusive legal rights of firms to use specific names,brands,and designs to differentiate their products from others.

The key role of institutions is to _____ in business transactions.

State ownership differs from private ownership in that in state ownership _____.

The cultural school of thought in economic development suggests that rich countries tend to be endowed with natural resources.

Patents are exclusive rights of firms to use specific names and brands.

Intellectual property specifically refers to _____ property.

Opportunism increases transaction costs.

_____ are represented by laws,regulations,and rules.

Theocratic totalitarianism refers to the monopolization of political power in the hands of one religious party.

Compare and contrast civil law,common law,and theocratic law.

The common law tradition is mostly spread in non-English speaking countries.

Globalizing Business

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Capitalizing on Global and Regional Integration

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

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Exam 2: Understanding Formal Institutions: Politics, Laws, and Economics

What is totalitarianism? Outline the four major types of totalitarian systems.

In which of the following examples can the role of the cognitive pillar be identified?

Disabling formal institutes does not affect transaction costs.

Which of the following is true of private ownership?

Force majeure is a method of interpreting a statute by understanding the legislative history leading up to the adoption of that statute.

_____ are legal rights awarded by government authorities to inventors of new products.

Contracts in civil law countries tend to be long and detailed compared to contracts in common law countries.

Right-wing totalitarianism refers to the monopolization of power in the hands of a communist party.

Islamic law is the only surviving example of a theocratic legal system that is formally practiced by some existing governments.

_____ are exclusive legal rights of firms to use specific names,brands,and designs to differentiate their products from others.

The key role of institutions is to _____ in business transactions.

State ownership differs from private ownership in that in state ownership _____.

The cultural school of thought in economic development suggests that rich countries tend to be endowed with natural resources.

Patents are exclusive rights of firms to use specific names and brands.

Intellectual property specifically refers to _____ property.

Opportunism increases transaction costs.

_____ are represented by laws,regulations,and rules.

Theocratic totalitarianism refers to the monopolization of political power in the hands of one religious party.

Compare and contrast civil law,common law,and theocratic law.

The common law tradition is mostly spread in non-English speaking countries.

Globalizing Business

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Capitalizing on Global and Regional Integration

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters