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