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Exam 2: National Differences in Political Economy

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Question 1

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In a totalitarian country:

A) free and fair elections are denied to the citizens.
B) the media is usually free and very active.
C) an individual has basic civil rights.
D) the right to freedom of expression and organization is usually not curbeD.

E) A) and B)
F) A) and C)

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Question 2

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When contract disputes arise in international trade,there is always the question of which country's laws to apply.To resolve this issue,a number of countries,including the United States,have ratified the _____,which establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations.

A) United Nations Convention on Contracts for the International Sale of Goods
B) Foreign Practices Act
C) Convention on Combating Bribery of Foreign Public Officials
D) International Court of Mediation

E) C) and D)
F) A) and D)

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Question 3

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Which of the following individuals argued that private property is more highly productive than communal property and will thus stimulate progress?

In a _____ economy,certain sectors of the economy are left to private ownership and free market mechanisms,while in other sectors there is significant state ownership and government planning.

Tribal totalitarianism is found in states where political power is monopolized by a party,group,or individual that governs according to religious principles.

The fascist regimes that ruled Germany and Italy in the 1930s and 1940s were states.

GNI per person figures consider differences in the cost of living and allow for a more direct comparison of living standards in different countries.

Describe the two ways in which property rights can be violated.

Which of the following is a way to make privatization work?

A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance.Many business executives argue that this:

Command economies are dynamic economic systems that encourage innovation.

In the context of common law,the ways in which laws are applied in specific situations are referred to as:

Gross national income (GNI)measures the total annual income received by residents of a nation.

Some totalitarian regimes have fostered a market economy and strong property rights protection and have experienced rapid economic growth.

The pro-business and pro-free trade values of _____ create a favorable environment within which international businesses can thrive.

Which of the following is NOT a central tenet of individualism?

Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until:

A representative democracy is not an essential factor for economic development and totalitarian governments have displayed that it is possible to attain high rates of economic growth.Which of the following countries best illustrates the above argument?

New information and communication technologies like the Internet have reduced the state's ability to control access to uncensored information.Which of the following is one of the possible political fallouts of this development?

The system of government in a nation is referred to as its: