Exam 2: National Differences in Political Economy, and Legal Systems

Which of the following statements about the Trade Related Aspects of Intellectual Property Rights (or TRIPS) agreement is true?

In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to _____.

The _____ establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations.

The number of command economies has fallen dramatically since the demise of communism in the late 1980s.

Product liability sets certain safety standards to which a product must adhere.

What is a country's legal system? Why is it important to international businesses?

The Trade-Related Aspects of Intellectual Property Rights, attempts to reduce intellectual property protections to enhance trade.

The _____ believed that socialism could be achieved only through violent revolution and totalitarian dictatorship.

Why did Karl Marx criticize capitalism? Describe how he planned to correct those shortcomings.

Which of the following statements about individualism is true?

In a pure market economy:

Which of the following is the most widely practiced theocratic legal system in the world today?

What are the factors that contribute to the attractiveness of a country as a market or investment site?

Antitrust laws in the United States are designed to:

Which of the following is an example of intellectual property?

In the 1970s, the United States _____ which requires all publicly traded companies, whether or not they are involved in international trade, to keep detailed records that would reveal whether a violation of the act has occurred.

The parties to an agreement normally resort to contract law when one party feels the other has violated either the letter or the spirit of an agreement.

Which of the following philosophies can be traced back to the ancient Greek philosopher Aristotle?

_____ generally permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to the rise of communism.

The term used to describe a state in which authoritarian elements have captured some or much of the machinery of state and use this in an attempt to deny basic political and civil liberties.