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- 1. Multiple ChoiceModern socialism has been popularized largely through the work of _Adam SmithKarl MarxDavid HumeThomas Hobbes
- 2. Multiple ChoiceIn several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to _____.privatizationnationalizationliberalizationsocialization of production
- 3. Multiple ChoiceWhich of the following philosophies can be traced back to the ancient Greek philosopher Aristotle?SocialismIndividualismCollectivismAnarchism
- 4. Multiple ChoiceWhich of the following is a feature of a democracy?Exercise of absolute control by one person or political party.Governance by people or elected representatives.Prohibition of entry to opposing political parties.Complete restriction of individual political freedom.
- 5. Multiple ChoiceWhich system of government generally permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to the rise of communism?Tribal totalitarianismRight-wing totalitarianismDemocratic totalitarianismTheocratic totalitarianism
- 6. Multiple ChoiceAntitrust laws in the United States are designed to:restrict agricultural subsidiesincrease trade barriers.outlaw monopolies.restrict privatization.
- 7. Multiple ChoiceIn a(n) _____ economy the government plans the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold.marketopen economylaissez-fairecommand
- 8. Multiple ChoiceIn which of the following economies would the government be most likely to take into state ownership troubled firms whose continued operation is thought to be vital to national interests?market economiesopen economylaissez-faire economiesmixed economies
- 9. Multiple ChoiceWhich of the following statements about the legal systems of countries is true?They can affect the attractiveness of a country as an investment site or market.They are not influenced by the prevailing political system of the countryThey are almost the same for all countries.They are of little importance to international business
- 10. Multiple ChoiceA civil law system tends to be less adversarial than a common law system because the:judges' decisions are based on detailed legal codesjudges have the freedom to interpret laws based on the situation.judges' decisions are based on religious teachingsjudges are guided by interpretations made in prior legal cases
- 11. Multiple ChoiceA common law system is different from a civil law system because:a common law system is based on religious teachings, while a civil law system is based on cultural traditions.a common law system is very rigid, while a civil law system tends to be more flexible.a common law system is very rigid, while a civil law system tends to be more flexible.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.
- 12. Multiple Choice_____ is the collective term for the legal rights relating to the use to which a resource is put and over the use made of any income that may be derived from that resource.Trade rightsProperty rightsPositive rightsCommon rights
- 13. Multiple ChoiceViolation of property rights done through legal mechanisms such as levying excessive taxation and requiring expensive licenses or permits from property holders is called _____.private actioncollective actionpublic actioncopyright violation
- 14. Multiple ChoiceWhich of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?Making and performance of commercial contracts in international trade.Preventing bribery and unethical acts in the conduct of international business.Establishing a set of safety standards to which a new product must adhere.Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S.
- 15. Multiple ChoiceA _____ grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacture, use, or sale of that invention.copyrighttrademarkcontractpatent
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