AGB 302 Final Exam Questions with Correct Answers 2023

which of the following is a step in the shift towards a market based economic system? - Answer-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 __________ - Answer-trademarks ________, 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 in several western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to ________. - Answer-privatization 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 which of the following areas of international trade is regulated by the Foreign Corrupt Practice Act? - Answer-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. - Answer-individualism the state can expropriate the profits from innovation through legal means, such as ____________. - Answer-excessive taxation a free market economy in which property rights are protected leads to subsequent economic growth, which often leads to the establishment of: - Answer-a democratic regime under the ___________, cases are judged with reference to three characteristics: tradition, precedent, and custom. - Answer-common law system anecdotal comparisons suggest that the assertion that nations that invest more in _________ will have higher growth rates is true. - Answer-education which of the following helps in adjusting GNI such that it accounts for the differences in the cost of living? - Answer-purchasing power party (PPP) adjustment