Question 1

Discuss the ways in which public action to violate property rights can occur.

Accepted Answer

Public action to violate property rights occurs when public officials,such as politicians and government bureaucrats,extort income,resources,or the property itself from property holders.This can be done through legal mechanisms such as levying excessive taxation,requiring expensive licenses or permits from property holders,taking assets into state ownership without compensating the owners,or redistributing assets without compensating the prior owners.It can also be done through illegal means,or corruption,by demanding bribes from businesses in return for the rights to operate in a country,industry,or location.

Question 2

Which of the following is a feature of a democracy?

Accepted Answer

A)  Exercise of absolute control by one person or political party. 
B)  Governance by people or elected representatives. 
C)  Prohibition of entry to opposing political parties. 
D)  Complete restriction of individual political freedom. 
A)  Exercise of absolute control by one person or political party. 
B)  Governance by people or elected representatives. 
C)  Prohibition of entry to opposing political parties. 
D)  Complete restriction of individual political freedom. B

Question 3

Which of the following is NOT an example of intellectual property?

Accepted Answer

A)  A music score 
B)  A video game 
C)  A software business 
D)  A screenplay 
A)  A music score 
B)  A video game 
C)  A software business 
D)  A screenplay C

Question 4

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

Accepted Answer

A)  privatization 
B)  nationalization 
C)  liberalization 
D)  socialization of production 
A)  privatization 
B)  nationalization 
C)  liberalization 
D)  socialization of production

Question 5

Contracts under a civil law system tend to be very detailed with all contingencies spelled out.

Accepted Answer

A) True 
 B)False

Question 6

The TRIPS agreement was designed to:

Accepted Answer

A)  exclude China from all intellectual property agreements. 
B)  oversee a much stricter enforcement of intellectual property regulations. 
C)  hold a firm and its officers responsible when a product causes injury, death, or damage. 
D)  support traded software and recorded property among developed markets. 
A)  exclude China from all intellectual property agreements. 
B)  oversee a much stricter enforcement of intellectual property regulations. 
C)  hold a firm and its officers responsible when a product causes injury, death, or damage. 
D)  support traded software and recorded property among developed markets.

Question 7

Plato,to whom the advocacy of collectivism is traced back,did not equate collectivism with equality.

Accepted Answer

A) True 
 B)False

Question 8

Discuss collectivism.What ideals does the philosophy support? Where did the philosophy start? How does collectivism exist in the modern world?

Accepted Answer

A collectivist political system is one t

Question 9

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Accepted Answer

A) True 
 B)False

Question 10

Aristotle argued that individual diversity and private ownership are undesirable.

Accepted Answer

A) True 
 B)False

Question 11

Property rights refer to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.

Accepted Answer

A) True 
 B)False

Question 12

In a market economy,if demand for a product exceeds supply,prices will rise,signaling to producers to produce more.

Accepted Answer

A) True 
 B)False

Question 13

Explain the differences between common law and civil law systems by the approach of each to contract law.

Accepted Answer

Contracts drafted under a common law fra

Question 14

A common law system is different from a civil law system because:

Accepted Answer

A)  a common law system is based on religious teachings, while a civil law system is based on cultural traditions. 
B)  a common law system is very rigid, while a civil law system tends to be more flexible. 
C)  in a common law system a judge relies on legal codes to make rulings, while in a civil law system a judge relies on his intuition and moral reasoning to make judgments. 
D)  in a common law system a judge has the power to interpret the law, while in a civil law system a judge has the power only to apply the law. 
A)  a common law system is based on religious teachings, while a civil law system is based on cultural traditions. 
B)  a common law system is very rigid, while a civil law system tends to be more flexible. 
C)  in a common law system a judge relies on legal codes to make rulings, while in a civil law system a judge relies on his intuition and moral reasoning to make judgments. 
D)  in a common law system a judge has the power to interpret the law, while in a civil law system a judge has the power only to apply the law.

Question 15

Discuss why there is inefficiency in a monopoly situation.What is the role of the government in such a situation?

Accepted Answer

In a monopoly situation,a firm has no co

Question 16

Violation of property rights done through legal mechanisms such as levying excessive taxation and requiring expensive licenses or permits from property holders is called ________.

Accepted Answer

A)  private action 
B)  collective action 
C)  public action 
D)  copyright violation 
A)  private action 
B)  collective action 
C)  public action 
D)  copyright violation

Question 17

Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?

Accepted Answer

A)  Making and performance of commercial contracts in international trade. 
B)  Preventing bribery and unethical acts in the conduct of international business. 
C)  Establishing a set of safety standards to which a new product must adhere. 
D)  Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S. 
A)  Making and performance of commercial contracts in international trade. 
B)  Preventing bribery and unethical acts in the conduct of international business. 
C)  Establishing a set of safety standards to which a new product must adhere. 
D)  Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S.

Question 18

The two dimensions,according to which the political systems can be assessed,collectivism-individualism and democratic-totalitarian are independent of each other.

Accepted Answer

A) True 
 B)False

Question 19

In mixed economies,governments also tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  Socialism 
B)  Individualism 
C)  Collectivism 
D)  Anarchism 
A)  Socialism 
B)  Individualism 
C)  Collectivism 
D)  Anarchism

Discuss the ways in which public action to violate property rights can occur.

Which of the following is a feature of a democracy?

Which of the following is NOT an example of intellectual property?

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

Contracts under a civil law system tend to be very detailed with all contingencies spelled out.

The TRIPS agreement was designed to:

Plato,to whom the advocacy of collectivism is traced back,did not equate collectivism with equality.

Discuss collectivism.What ideals does the philosophy support? Where did the philosophy start? How does collectivism exist in the modern world?

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Aristotle argued that individual diversity and private ownership are undesirable.

Property rights refer to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.

In a market economy,if demand for a product exceeds supply,prices will rise,signaling to producers to produce more.

Explain the differences between common law and civil law systems by the approach of each to contract law.

A common law system is different from a civil law system because:

Discuss why there is inefficiency in a monopoly situation.What is the role of the government in such a situation?

Violation of property rights done through legal mechanisms such as levying excessive taxation and requiring expensive licenses or permits from property holders is called ________.

Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?

The two dimensions,according to which the political systems can be assessed,collectivism-individualism and democratic-totalitarian are independent of each other.

In mixed economies,governments also tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests.

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

Globalization

National Differences in Economic Development

Differences in Culture

Ethics, corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and Rd

Global Human Resource Management

Accounting and Finance in the International Business

Filters

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

Discuss the ways in which public action to violate property rights can occur.

Which of the following is a feature of a democracy?

Which of the following is NOT an example of intellectual property?

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

Contracts under a civil law system tend to be very detailed with all contingencies spelled out.

The TRIPS agreement was designed to:

Plato,to whom the advocacy of collectivism is traced back,did not equate collectivism with equality.

Discuss collectivism.What ideals does the philosophy support? Where did the philosophy start? How does collectivism exist in the modern world?

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Aristotle argued that individual diversity and private ownership are undesirable.

Property rights refer to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.

In a market economy,if demand for a product exceeds supply,prices will rise,signaling to producers to produce more.

Explain the differences between common law and civil law systems by the approach of each to contract law.

A common law system is different from a civil law system because:

Discuss why there is inefficiency in a monopoly situation.What is the role of the government in such a situation?

Violation of property rights done through legal mechanisms such as levying excessive taxation and requiring expensive licenses or permits from property holders is called ________.

Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?

The two dimensions,according to which the political systems can be assessed,collectivism-individualism and democratic-totalitarian are independent of each other.

In mixed economies,governments also tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests.

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

Globalization

National Differences in Economic Development

Differences in Culture

Ethics, corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and Rd

Global Human Resource Management

Accounting and Finance in the International Business

Filters