AGB 302 Final Exam
which of the following is a step in the shift towards a market based economic system? –
✔✔creation of a legal system to safeguard property rights
design and names by which merchants or manufacturers designate and differentiate their
products are known as _ – ✔✔trademarks
, a nobel prize-winning economist, has argued that development is not just an
economic process, but it is a political one as well. – ✔✔amartya sen
in several western democracies, the poor performance of state-owned enterprises, because of
protection from competition and guaranteed government financial support, led to . –
✔✔privatization
one of the reasons for the spread of democracy is the emergence of ____ who have
pushed for democratic reforms. – ✔✔increasingly prosperous middle and working classes
which of the following areas of international trade is regulated by the Foreign Corrupt Practice
Act? – ✔✔preventing bribery and unethical acts in the conduct of international business
the tenet of is that the welfare of society is best served by letting people pursue
their own economic self-interest. – ✔✔individualism
the state can expropriate the profits from innovation through legal means, such as
_. – ✔✔excessive taxation
a free market economy in which property rights are protected leads to subsequent economic
growth, which often leads to the establishment of: – ✔✔a democratic regime
under the , cases are judged with reference to three characteristics: tradition,
precedent, and custom. – ✔✔common law system
anecdotal comparisons suggest that the assertion that nations that invest more in will
have higher growth rates is true. – ✔✔education
which of the following helps in adjusting GNI such that it accounts for the differences in the cost
of living? – ✔✔purchasing power party (PPP) adjustment
in a _ economy, certain sectors of the economy are left to private ownership and free
market mechanisms while other sectors have significant state ownership and government
planning. – ✔✔mixed
a market economy encourages innovation because: – ✔✔economic freedom leads to greater
incentives for innovation
several of the fastest-growing asian economies adopted more governments during
the past three decades, including South Korea and Taiwan. – ✔✔democratic
which 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.
modern socialism has been popularized largely through the work of _. – ✔✔karl
marx
which of the following is a measure that is developed by the United Nations to measure the
quality of life in different nations? – ✔✔human development index
in a pure market economy: – ✔✔production is determined by the interaction of supply and
demand.
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