AGB 302 Week 1: Quiz
MULTIPLE CHOICE. Choose the one alternative that best completes the statem
question.
1) Interdependent political, economic, and legal systems of a country make up its:
A) administrative agenda. B) political economy.
C) socioeconomic fabric. D) cultural environment.
2) Modern socialism has been popularized largely through the work of .
A) Thomas Hobbes B) David Hume
C) Karl Marx D) Adam Smith
3) In several Western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial
support, led to .
A) liberalization B) socialization of production
C) privatization D) nationalization
4) The tenet of is that the welfare of society is best served by letting people
pursue their own economic self-interest.
A) socialism B) anarchism C) communism D) individ
5)In a pure market economy:
A) production is determined by the interaction of supply and demand.
B)the prices at which goods are sold is determined by the government.
C) all productive activities are owned by the state.
D) collectivist goals are given priority over individual goals.
6) 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.
A) command B) mixed C) private D) market
7)Which of the following statements about the legal systems of countries is true?
A) They can affect the attractiveness of a country as an investment site or market.
B)They are almost the same for all countries.
C) They are of little importance to international business.
D) They are not influenced by the prevailing political system of the country.
8) Under the , cases are judged with reference to three characteristics:
tradition, precedent, and custom.
A) civil law system B) common law system
C) contract law system D) theocratic law system
, B)Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S.
C) Establishing a set of safety standards to which a new product must adhere.
D) Preventing bribery and unethical acts in the conduct of international business.
10) Design and names by which merchants or manufacturers designate and differentiate
their products are known as .
A) licenses B) copyrights C) patents D) trademarks
11) One of the reasons for the spread of democracy is the emergence of who have pu
for democratic reforms.
A) increasingly prosperous middle and working classes
B)a more vocal working poor
C) a desperate urban poor
D) better educated lower classes
12) Anecdotal comparisons suggest that the assertion that nations that invest more in
will have higher growth rates is true.
A) manufacturing B) education
C) centralized urban centers D) infrastructure
13) Several of the fastest-growing Asian economies adopted more governments durin
the past three decades, including South Korea and Taiwan.
A) dictatorial B) socialists C) totalitarian D) democratic
14) Which of the following helps in adjusting GNI such that it accounts for the differences in th
cost of living?
A) Debt to GNI ratio
B)Human Development Index
C) Consumer Price Index
D) Purchasing power parity (PPP) adjustment
15) Which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations?
A) Human Development Index B) Purchasing power parity
C) Gross national income D) Gross domestic product
16) , a Nobel Prize-winning economist, has argued that development is not just
an economic process, but it is a political one as well.
A) Amartya Sen B) Hernando de Soto
C) Samuel Huntington D) Karl Marx
MULTIPLE CHOICE. Choose the one alternative that best completes the statem
question.
1) Interdependent political, economic, and legal systems of a country make up its:
A) administrative agenda. B) political economy.
C) socioeconomic fabric. D) cultural environment.
2) Modern socialism has been popularized largely through the work of .
A) Thomas Hobbes B) David Hume
C) Karl Marx D) Adam Smith
3) In several Western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial
support, led to .
A) liberalization B) socialization of production
C) privatization D) nationalization
4) The tenet of is that the welfare of society is best served by letting people
pursue their own economic self-interest.
A) socialism B) anarchism C) communism D) individ
5)In a pure market economy:
A) production is determined by the interaction of supply and demand.
B)the prices at which goods are sold is determined by the government.
C) all productive activities are owned by the state.
D) collectivist goals are given priority over individual goals.
6) 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.
A) command B) mixed C) private D) market
7)Which of the following statements about the legal systems of countries is true?
A) They can affect the attractiveness of a country as an investment site or market.
B)They are almost the same for all countries.
C) They are of little importance to international business.
D) They are not influenced by the prevailing political system of the country.
8) Under the , cases are judged with reference to three characteristics:
tradition, precedent, and custom.
A) civil law system B) common law system
C) contract law system D) theocratic law system
, B)Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S.
C) Establishing a set of safety standards to which a new product must adhere.
D) Preventing bribery and unethical acts in the conduct of international business.
10) Design and names by which merchants or manufacturers designate and differentiate
their products are known as .
A) licenses B) copyrights C) patents D) trademarks
11) One of the reasons for the spread of democracy is the emergence of who have pu
for democratic reforms.
A) increasingly prosperous middle and working classes
B)a more vocal working poor
C) a desperate urban poor
D) better educated lower classes
12) Anecdotal comparisons suggest that the assertion that nations that invest more in
will have higher growth rates is true.
A) manufacturing B) education
C) centralized urban centers D) infrastructure
13) Several of the fastest-growing Asian economies adopted more governments durin
the past three decades, including South Korea and Taiwan.
A) dictatorial B) socialists C) totalitarian D) democratic
14) Which of the following helps in adjusting GNI such that it accounts for the differences in th
cost of living?
A) Debt to GNI ratio
B)Human Development Index
C) Consumer Price Index
D) Purchasing power parity (PPP) adjustment
15) Which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations?
A) Human Development Index B) Purchasing power parity
C) Gross national income D) Gross domestic product
16) , a Nobel Prize-winning economist, has argued that development is not just
an economic process, but it is a political one as well.
A) Amartya Sen B) Hernando de Soto
C) Samuel Huntington D) Karl Marx
