Agb 302 quiz 1 Questions with 100- Correct Answers.

Agb 302 quiz 1 Questions with 100% Correct
Answers



Interdependent political, economic, and legal systems of a country make up its - Correct Answer -
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political economy
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Modern socialism has been popularized largely through the work of ________. - Correct Answer - karl
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marx
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In several Western democracies, the poor performance of state-owned enterprises, because of protection
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from competition and guaranteed government financial support, led to ________. - Correct Answer -
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privatization
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The tenet of ________ is that the welfare of society is best served by letting people pursue their own
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economic self-interest. - Correct Answer - individualism
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in a pure market economy: - Correct Answer - production is determined by the interaction of supply and
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demand.
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In a ________ economy, certain sectors of the economy are left to private ownership and free market
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mechanisms while other sectors have significant state ownership and government planning - Correct
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Answer - mixed
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Which of the following statements about the legal systems of countries is true? - Correct Answer - They
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can affect the attractiveness of a country as an investment site or market.
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Under the ________, cases are judged with reference to three characteristics: tradition, precedent, and
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custom. - Correct Answer - common law system
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Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act? -
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Correct Answer - Preventing bribery and unethical acts in the conduct of international business
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Design and names by which merchants or manufacturers designate and differentiate their products are
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known as ________ - Correct Answer - trademarks
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One of the reasons for the spread of democracy is the emergence of ________ who have pushed for
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democratic reforms - Correct Answer - increasingly prosperous middle and working classes
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Anecdotal comparisons suggest that the assertion that nations that invest more in
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________ will have higher growth rates is true. - Correct Answer - education
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Several of the fastest-growing Asian economies adopted more ________ governments during the past
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three decades, including South Korea and Taiwan - Correct Answer - democratic
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Which of the following helps in adjusting GNI such that it accounts for the differences in the cost of
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living? - Correct Answer - purchasing power parity adjustment
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