AGB 302 Final Exam Questions with
Complete Answers
Which of the following areas of international trade is regulated by the Foreign corrupt
practices act? - Answer-Preventing bribery and unethical acts in the conduct of
international business
Which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations? - Answer-Human development Index
Modern socialism has been popularized largely through the work of ____.? - Answer-
Karl Marx
____. A Nobel prize winning economist has argued that development is not just an
economic process but it is a political one as well - Answer-Amartya Sen
Which of the following statements about the legal systems of countries is true? -
Answer-They can affect the attractiveness of a country as an investment site or market
A market economy encourages innovation because: - Answer-Economic freedom leads
to greater incentives for innovation
In a pure market economy: - Answer-Production is determined by the interaction of
supply and demand
Inter-dependent political, economic, and legal systems of a country make up its: -
Answer-Political economy
Several of the fastest growing Asian economies adopted more ____ governments
during the past three decades including South Korea and Taiwan - Answer-Democratic
In several Western democracies, the poor performance of state owned enterprises,
because of protection from competition and guaranteed government financial support
lead to ___. - Answer-Privatization
The tenant of ____ is that the welfare of society is best served by letting people pursue
their own economic self interest - Answer-Individualism
Which of the following is a step in the shift toward a market basic economic system? -
Answer-Creation of the legal system to safeguard property rights
Anecdotal comparisons suggest that the assertion that nations that invest more in ____
will have higher growth rates is true - Answer-Education
, In a ____ economy certain sectors of the economy are left to private ownership in free-
market mechanisms while other sectors have significant state ownership and
government planning - Answer-mixed
Under the ____ cases are judged with reference to three characteristics: tradition,
precedent, and custom - Answer-common law system
The state can expropriate the profits from innovation for legal means such as ____. -
Answer-Excessive Taxation
One of the reasons for the spread of democracy is the emergence of ____ who have
pushed for democratic reforms - Answer-Increasingly prosperous middle and working
classes
Design and names by which merchants and manufactures designate and differentiate
their products are known as ____. - Answer-Trademarks
Which of the following helps in adjusting GNI such that it accounts for the differences in
the cost of living? - Answer-Purchasing power parity (PPP) adjustment
A free market economy in which property rights are protected leads to subsequent
economic growth, which often leads to the establishment of: - Answer-democratic
regime
Which of the following sociologist made a connection between protestant ethics in the
spirit of capitalism - Answer-Max Weber
Which of the following is a closed system of stratification in which social position is
determined by the family into which a person is born then changes in that position is
usually not possible during the individuals lifetime - Answer-Caste system
Ethical systems are: - Answer-a set of moral principles, or values, that are used to guide
and shape behavior
Japanese executive's ritual of presenting a business card to a foreign business
executive is an example of____. - Answer-Folkways
According to Islam, those who hold property are regarded as___. - Answer-Trustees
Which of the following refers to the values and norms that the employees of an
organization share? - Answer-organization culture
The convention of combating bribery of foreign public officials in international business
transactions excludes: - Answer-Facilitating payments made to expedite routine
government action
Complete Answers
Which of the following areas of international trade is regulated by the Foreign corrupt
practices act? - Answer-Preventing bribery and unethical acts in the conduct of
international business
Which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations? - Answer-Human development Index
Modern socialism has been popularized largely through the work of ____.? - Answer-
Karl Marx
____. A Nobel prize winning economist has argued that development is not just an
economic process but it is a political one as well - Answer-Amartya Sen
Which of the following statements about the legal systems of countries is true? -
Answer-They can affect the attractiveness of a country as an investment site or market
A market economy encourages innovation because: - Answer-Economic freedom leads
to greater incentives for innovation
In a pure market economy: - Answer-Production is determined by the interaction of
supply and demand
Inter-dependent political, economic, and legal systems of a country make up its: -
Answer-Political economy
Several of the fastest growing Asian economies adopted more ____ governments
during the past three decades including South Korea and Taiwan - Answer-Democratic
In several Western democracies, the poor performance of state owned enterprises,
because of protection from competition and guaranteed government financial support
lead to ___. - Answer-Privatization
The tenant of ____ is that the welfare of society is best served by letting people pursue
their own economic self interest - Answer-Individualism
Which of the following is a step in the shift toward a market basic economic system? -
Answer-Creation of the legal system to safeguard property rights
Anecdotal comparisons suggest that the assertion that nations that invest more in ____
will have higher growth rates is true - Answer-Education
, In a ____ economy certain sectors of the economy are left to private ownership in free-
market mechanisms while other sectors have significant state ownership and
government planning - Answer-mixed
Under the ____ cases are judged with reference to three characteristics: tradition,
precedent, and custom - Answer-common law system
The state can expropriate the profits from innovation for legal means such as ____. -
Answer-Excessive Taxation
One of the reasons for the spread of democracy is the emergence of ____ who have
pushed for democratic reforms - Answer-Increasingly prosperous middle and working
classes
Design and names by which merchants and manufactures designate and differentiate
their products are known as ____. - Answer-Trademarks
Which of the following helps in adjusting GNI such that it accounts for the differences in
the cost of living? - Answer-Purchasing power parity (PPP) adjustment
A free market economy in which property rights are protected leads to subsequent
economic growth, which often leads to the establishment of: - Answer-democratic
regime
Which of the following sociologist made a connection between protestant ethics in the
spirit of capitalism - Answer-Max Weber
Which of the following is a closed system of stratification in which social position is
determined by the family into which a person is born then changes in that position is
usually not possible during the individuals lifetime - Answer-Caste system
Ethical systems are: - Answer-a set of moral principles, or values, that are used to guide
and shape behavior
Japanese executive's ritual of presenting a business card to a foreign business
executive is an example of____. - Answer-Folkways
According to Islam, those who hold property are regarded as___. - Answer-Trustees
Which of the following refers to the values and norms that the employees of an
organization share? - Answer-organization culture
The convention of combating bribery of foreign public officials in international business
transactions excludes: - Answer-Facilitating payments made to expedite routine
government action
