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| 1 | |
Collectivism shapes any political system regardless of democratic or totalitarian governing institutions if the primacy of collective goals over individual goals is the norm. |
| | A) | True |
| | B) | False |
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| 2 | |
One of the central tenets of individualism is that the welfare of society is best served by letting people pursue their own economic self-interest. |
| | A) | True |
| | B) | False |
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| 3 | |
You would likely find the government taking ownership of troubled firms in a command economy. |
| | A) | True |
| | B) | False |
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| 4 | |
Contract law is one of the critical elements to an international businessperson looking at different legal systems in different countries. |
| | A) | True |
| | B) | False |
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| 5 | |
In general, a nation with a market economy along with democratic government and protection of intellectual property rights is the most attractive national for international businesses. |
| | A) | True |
| | B) | False |
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| 6 | |
In the early twentieth century, socialist ideology split into two broad camps: communists and _____________________. |
| | A) | social democrats |
| | B) | totalitarians |
| | C) | democrats |
| | D) | individualists |
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| 7 | |
Which of the following is NOT one of the safeguards usually enshrined in constitutional law of representative democracy? |
| | A) | A free media |
| | B) | Regular elections in which all eligible citizens are allowed to vote |
| | C) | Limited access to state information |
| | D) | A fair court system that is independent from the political system |
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| 8 | |
Totalitarianism is a political system in which one person or political party exercises absolute control and prohibits other political parties. Four types are usually recognized: |
| | A) | Left-wing, theocratic, tribal and right-wing. |
| | B) | Communist, theocratic, industrial-military and right-wing. |
| | C) | Communist, secular, tribal and right-wing. |
| | D) | Communist, theocratic, tribal and right-wing. |
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| 9 | |
Which of the following is not one of the three broad types of economic systems: |
| | A) | Market economy |
| | B) | Entrepreneurial economy |
| | C) | Command economy |
| | D) | Mixed economy |
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| 10 | |
The role of the government in a market economy is to _____________________. |
| | A) | plan the production of goods and services in that country |
| | B) | redistribute income to create equitable access to the market |
| | C) | encourage vigorous free and fair competition between private producers |
| | D) | allocate resources for "the good of society" |
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| 11 | |
The objective of a command economy is to _______________________. |
| | A) | mobilize resources for the public good |
| | B) | take over troubled industries but only when they are facing serious problems |
| | C) | open up markets both at home and abroad |
| | D) | ensure supplies are not restricted |
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| 12 | |
A ________________ law system is based on a detailed set of laws organized into codes. |
| | A) | theocratic |
| | B) | common |
| | C) | state-controlled |
| | D) | civil |
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| 13 | |
Which of the following is true about the Foreign Corrupt Practices Act? |
| | A) | This legislation was repealed by the U.S. Congress as part of the deregulation efforts in the late 20th century. |
| | B) | Trade and finance ministers of the Organization for Economic Cooperation and development (OECD) adopted a convention obliging member states to enact similar legislation in 1997. |
| | C) | The Act forbids the payment of "grease payments" or "speed money". |
| | D) | The law will expire once the WTO has implemented similar legislations among all member nations. |
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| 14 | |
The term "intellectual property" refers to: |
| | A) | the leading business text on artistic creativity. |
| | B) | the product(s) of any intellectual activity. |
| | C) | the theory that you can invest, own, sell, or trade any material good. |
| | D) | patents. |
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| 15 | |
Two broad implications for international business arising from the political, economic and legal systems in a country are ______________ and the attractiveness of the country as a market or investment site. |
| | A) | ethical issues |
| | B) | the need to support international organization like the WTO |
| | C) | national economies of scale |
| | D) | the separation of military and police enforcement powers affecting business |
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