Question 1

Which of the following systems is a part of the political economy?

Accepted Answer

A)  Religious system
B)  Value system
C)  Demographic system
D)  Legal system
E)  Technological systemF) B) and C)
G) C) and E)

Question 2

Which of the following generally permits individual economic freedom, but restricts individual political freedom on the grounds that it would lead to the rise of communism?

Accepted Answer

A)  Pure democracy
B)  Right-wing totalitarianism
C)  Free market capitalism
D)  Representative democracy
E)  Communist totalitarianismF) None of the above
G) C) and D)

Question 3

A common law system tends to be less adversarial than a civil law system.

Accepted Answer

A) True 
 B)False

Question 4

All right-wing dictatorships display an affinity toward socialist or communist ideas.

Accepted Answer

A) True 
 B)False

Question 5

Jewish law is an example of what type of law system?

Accepted Answer

A)  Autocratic
B)  Civil
C)  Common
D)  Theocratic
E)  UniversalF) All of the above
G) B) and C)

Question 6

The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the shipbuilding industry were enraged by this decision of the government. As a result, the government had to reduce the tax burden on all other private shipbuilding firms so that both the state-owned enterprise and private firms could co-exist. According to this information, Boldovia has most likely adopted what type of economy?

Accepted Answer

A)  Mixed
B)  Market-based
C)  Command
D)  Laissez-faire
E)  CommunistF) B) and D)
G) B) and E)

Question 7

One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.

Accepted Answer

A) True 
 B)False

Question 8

In most democratic states, those who question the right of the rulers to rule find themselves imprisoned, or worse.

Accepted Answer

A) True 
 B)False

Question 9

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on:

Accepted Answer

A)  democracy.
B)  collectivism.
C)  individualism.
D)  capitalism.
E)  privatization.F) All of the above
G) A) and B)

Question 10

Which of the following type of laws hold a firm and its officers responsible when a product causes injury, death, or damage?

Accepted Answer

A)  Product equity
B)  Product failure
C)  Product liability
D)  Product parity
E)  Product testingF) C) and E)
G) None of the above

Question 11

Describe the Foreign Corrupt Practices Act.

Accepted Answer

In the 1970s, the United States passed t...

Question 12

Which of the following is true about the three main types of legal systems?

Accepted Answer

A)  Judges under a civil law system have more flexibility than those under a common law system.
B)  The common law system evolved in the United States over hundreds of years.
C)  Although Islamic law is primarily concerned with moral behavior, it has been extended to cover certain commercial activities.
D)  A theocratic law system is based on a detailed set of laws organized into codes.
E)  Common law cannot be altered, clarified, or amended to deal with new situations.F) B) and C)
G) D) and E)

Question 13

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Accepted Answer

A)  Barter
B)  Command
C)  Market
D)  Regulated
E)  Centrally plannedF) B) and C)
G) D) and E)

Question 14

What is the most widely practiced theocratic legal system in the modern world?

Accepted Answer

A)  Christian law
B)  Islamic law
C)  Jewish law
D)  Hindu law
E)  Buddhist lawF) A) and E)
G) A) and D)

Question 15

Democracy, in its purest form, is based on the belief that:

Accepted Answer

A)  citizens should be directly involved in decision making.
B)  political freedom of the citizens should be limited.
C)  citizens are responsible for their own economic health and thus need no government.
D)  individual freedom in the economic sphere should be restricted.
E)  one person should have an absolute control over all the citizens of a nation.F) A) and C)
G) A) and E)

Question 16

Which of the following nations is most likely to be unappealing as a place for doing business?

Accepted Answer

A)  A nation that has a market-based economic system
B)  A nation that has a strong legal system
C)  A nation that has a democratic political institution
D)  A nation that enforces strong property rights
E)  A nation that has a totalitarian political systemF) C) and D)
G) B) and D)

Question 17

In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be:

Accepted Answer

A)  privatized.
B)  decentralized.
C)  liberalized.
D)  nationalized.
E)  deregulated.F) A) and B)
G) D) and E)

Question 18

Which of the following is most likely to be protected by a copyright?

Accepted Answer

A)  A new manufacturing process invented in a company
B)  A newly invented telecommunication device
C)  Tangible property like land and building
D)  Movies produced and directed by a person
E)  A new type of car invented by an automobile companyF) D) and E)
G) C) and D)

Question 19

Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).

Accepted Answer

A) True 
 B)False

Question 20

The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted:

Accepted Answer

A)  right-wing totalitarianism.
B)  theocratic totalitarianism.
C)  representative democracy.
D)  pure democracy.
E)  totalitarian democracy.F) C) and E)
G) B) and E)

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

Which of the following is most likely to be protected by a copyright?

Correct Answer
verified

Which of the following type of laws hold a firm and its officers responsible when a product causes injury, death, or damage?

Correct Answer
verified

Which of the following is true about the three main types of legal systems?

Correct Answer
verified

Which of the following systems is a part of the political economy?

Correct Answer
verified

Describe the Foreign Corrupt Practices Act.

Correct Answer
verified
In the 1970s, the United States passed t...
View Answer

Which of the following nations is most likely to be unappealing as a place for doing business?

Correct Answer
verified

Correct Answer
verified

One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.

Correct Answer
verified

Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).

Correct Answer
verified

All right-wing dictatorships display an affinity toward socialist or communist ideas.

Correct Answer
verified

In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be:

Correct Answer
verified

In most democratic states, those who question the right of the rulers to rule find themselves imprisoned, or worse.

Correct Answer
verified

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on:

Correct Answer
verified

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Correct Answer
verified

The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted:

Correct Answer
verified

Jewish law is an example of what type of law system?

Correct Answer
verified

A common law system tends to be less adversarial than a civil law system.

Correct Answer
verified

What is the most widely practiced theocratic legal system in the modern world?

Correct Answer
verified

Democracy, in its purest form, is based on the belief that:

Correct Answer
verified

Which of the following generally permits individual economic freedom, but restricts individual political freedom on the grounds that it would lead to the rise of communism?

Correct Answer
verified

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

Which of the following is most likely to be protected by a copyright?

Correct AnswerverifiedShow Answer

Which of the following type of laws hold a firm and its officers responsible when a product causes injury, death, or damage?

Correct AnswerverifiedShow Answer

Which of the following is true about the three main types of legal systems?

Correct AnswerverifiedShow Answer

Which of the following systems is a part of the political economy?

Correct AnswerverifiedShow Answer

Describe the Foreign Corrupt Practices Act.

Correct AnswerverifiedIn the 1970s, the United States passed t...View AnswerShow Answer

Which of the following nations is most likely to be unappealing as a place for doing business?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.

Correct AnswerverifiedShow Answer

Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).

Correct AnswerverifiedShow Answer

All right-wing dictatorships display an affinity toward socialist or communist ideas.

Correct AnswerverifiedShow Answer

In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be:

Correct AnswerverifiedShow Answer

In most democratic states, those who question the right of the rulers to rule find themselves imprisoned, or worse.

Correct AnswerverifiedShow Answer

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on:

Correct AnswerverifiedShow Answer

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Correct AnswerverifiedShow Answer

The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted:

Correct AnswerverifiedShow Answer

Jewish law is an example of what type of law system?

Correct AnswerverifiedShow Answer

A common law system tends to be less adversarial than a civil law system.

Correct AnswerverifiedShow Answer

What is the most widely practiced theocratic legal system in the modern world?

Correct AnswerverifiedShow Answer

Democracy, in its purest form, is based on the belief that:

Correct AnswerverifiedShow Answer

Which of the following generally permits individual economic freedom, but restricts individual political freedom on the grounds that it would lead to the rise of communism?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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In the 1970s, the United States passed t...
View Answer

Correct Answer
verified

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verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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