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AGB 302 Final questions n correct answers
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AGB 302 Final questions n correct answers
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AGB 302 Finalwhich of the following is a step in the shift towards a market based economic system? - correct 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 __________ - correct 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. - correct 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 ________. - correct
answer ✔✔privatization
one of the reasons for the spread of democracy is the emergence of _____________ who have pushed
for democratic reforms. - correct answer ✔✔increasingly prosperous middle and working classes
which of the following areas of international trade is regulated by the Foreign Corrupt Practice Act? -
correct 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. - correct answer ✔✔individualism
the state can expropriate the profits from innovation through legal means, such as ____________. -
correct 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: - correct answer ✔✔a democratic regime
, under the ___________, cases are judged with reference to three characteristics: tradition, precedent,
and custom. - correct answer ✔✔common law system
anecdotal comparisons suggest that the assertion that nations that invest more in _________ will have
higher growth rates is true. - correct answer ✔✔education
which of the following helps in adjusting GNI such that it accounts for the differences in the cost of
living? - correct answer ✔✔purchasing power party (PPP) adjustment
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. - correct
answer ✔✔mixed
a market economy encourages innovation because: - correct answer ✔✔economic freedom leads to
greater incentives for innovation
several of the fastest-growing asian economies adopted more ___________ governments during the
past three decades, including South Korea and Taiwan. - correct answer ✔✔democratic
which of the following statements about the legal systems of countries is true? - correct answer ✔✔they
can affect the attractiveness of a country as an investment site or market.
modern socialism has been popularized largely through the work of ____________. - correct answer
✔✔karl marx
which of the following is a measure that is developed by the United Nations to measure the quality of
life in different nations? - correct answer ✔✔human development index
in a pure market economy: - correct answer ✔✔production is determined by the interaction of supply
and demand.
interdependent political, economic, and legal systems of a country make up its: - correct answer
✔✔political economy
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