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| 1 | |
Which of the following are people who believe that socialism could be achieved only through violent revolution and totalitarian dictatorship? |
| | A) | Individualists |
| | B) | Communists |
| | C) | Social democrats |
| | D) | Right-wing totalitarians |
| | E) | Theocrats |
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| 2 | |
Which of these refers to a philosophy that individuals should have freedom in economic and political pursuits? |
| | A) | Individualism |
| | B) | Totalitarianism |
| | C) | Communism |
| | D) | Collectivism |
| | E) | Command economy |
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| 3 | |
All of these are constitutional safeguards in an ideal representative democracy, except: |
| | A) | a free media. |
| | B) | universal adult suffrage. |
| | C) | a political state bureaucracy. |
| | D) | limited terms for elected representative. |
| | E) | relatively free access to state information. |
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| 4 | |
A political system in which government is by the people, exercised either directly or through elected officials is referred to as: |
| | A) | state-directed economy. |
| | B) | totalitarianism. |
| | C) | market economy. |
| | D) | communism. |
| | E) | democracy. |
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| 5 | |
All productive activities are privately owned in a pure ______. |
| | A) | market economy. |
| | B) | totalitarianism. |
| | C) | mixed economy. |
| | D) | command economy. |
| | E) | planned economy. |
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| 6 | |
In a ____ economy certain sectors of the economy are left to private ownership and free market mechanisms, while there is significant state ownership and government planning in other sectors. |
| | A) | market |
| | B) | planned |
| | C) | mixed |
| | D) | state-directed |
| | E) | common |
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| 7 | |
A _____ economy is one in which the state plays a significant role in directing investment activities of private enterprise through industrial policy and in otherwise regulating business activity in accordance with national goals. |
| | A) | mixed |
| | B) | state-directed |
| | C) | market |
| | D) | pure command |
| | E) | hybrid |
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| 8 | |
_____ are designs and names, registered, by manufacturers to differentiate their products. |
| | A) | Patents |
| | B) | Trademarks |
| | C) | Copyrights |
| | D) | Captions |
| | E) | GATT |
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| 9 | |
The Convention on Combating Bribery of Foreign Public Officials was initiated by the: |
| | A) | WTO |
| | B) | IMF |
| | C) | OECD |
| | D) | GATT |
| | E) | United Nations |
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| 10 | |
An Important international agreement to protect intellectual property is titled the “______________”. |
| | A) | NAFTA accord |
| | B) | CFTA |
| | C) | TRIPS |
| | D) | GATT |
| | E) | Paris Convention |
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| 11 | |
Under _______, WTO members must grant and enforce patents lasting at least 20 years and copyrights lasting 50 years. |
| | A) | GATT |
| | B) | the Paris Convention for the Protection of Industrial Property |
| | C) | the Foreign Corrupt Practices Act |
| | D) | the TRIPS |
| | E) | property rights |
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| 12 | |
Which of the following are important determinants of economic development? |
| | A) | Geography and education |
| | B) | Culture and government |
| | C) | Youth and language |
| | D) | Language and geography |
| | E) | Culture and language |
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| 13 | |
Since 2001, the replacement term for GNP is: |
| | A) | GRP, Gross Revenue product |
| | B) | GNI, Gross national Income |
| | C) | NEI,
National Estimated Income |
| | D) | GDP, Gross Domestic Product |
| | E) | NDP, National Domestic product |
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| 14 | |
Human Development Index is based on literacy rates, life expectancy, and: |
| | A) | average income based on PPP estimates. |
| | B) | per capita average income. |
| | C) | GNP. |
| | D) | CPI. |
| | E) | inflation rate. |
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| 15 | |
_______ is the removing of legal restrictions of markets, and the establishment of private enterprises. |
| | A) | Deregulation |
| | B) | Privatization |
| | C) | Planned economy |
| | D) | Communism |
| | E) | Command system |
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| 16 | |
___________ transfers the ownership of state property into the hands of individuals. |
| | A) | Confiscation |
| | B) | Privatization |
| | C) | Deregulation |
| | D) | Planned economy |
| | E) | Democratization |
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| 17 | |
The privatization movement started in ____ in the early 1980s. |
| | A) | Japan |
| | B) | Britain |
| | C) | India |
| | D) | China |
| | E) | The United states |
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| 18 | |
A country's _______ are two factors that are reasonably good predictors of a its future economic prospects. |
| | A) | literacy rate and life expectancy rates |
| | B) | legal system and political system |
| | C) | inflation rate and unemployment rate |
| | D) | GNP and population rate |
| | E) | economic system and property rights regime |
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| 19 | |
What are the benefits that accrue to early entrants into a market called? |
| | A) | Innovations |
| | B) | Privatization |
| | C) | First-mover advantages |
| | D) | Commercialization |
| | E) | Deregulation |
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| 20 | |
________ risk, is the likelihood that ________ forces will cause drastic changes in a country’s business environment that will adversely effect enterprises. |
| | A) | Economic |
| | B) | Political |
| | C) | Social |
| | D) | Geographic |
| | E) | Regional |
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