1. Identify the incorrect statement pertaining to intellectual property rights.a. Its violation cost personal computer software firms revenues equal to $40 billion in 2006b. The enforcement of its regulations has often been laxc. The protection of intellectual property rights is more or less the same in all countriesd. Its violation has been greatest in China, where the piracy rate in 2006 ran at 82 percent

2. Which of the following refers to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource?a. Property right

3. Interdependent political, economic and legal systems of a country make up itsc. Political economy

4. In a pure command economyc. All productive activities are owned by the state

5. A document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved is BEST known asd. A contract

6. The most common form of theocratic totalitarianism is based ona. Islam

7. Identify the incorrect statement pertaining to the legal systems of countries.a. They are influenced by the prevailing political system of the countryb. They are of immense importance to international businessc. They are almost the same for all countriesd. They can affect the attractiveness of a country as an investment site or market

8. A state where political power is monopolized by a party, group or individual that governs according to religious principles is best described as followingc. Theocratic totalitarianism

9. According to the _____, socialism can only be achieved through violent revolution.b. Communists

10. This can be defined as the likelihood that a trading partner will opportunistically break a contract or expropriate property rights.a. Legal risk

11. Which of the following countries can be best described as a communist totalitarian regime?b. North Korea

12. _____ is consistent with the notion that an individual's right to do something may be restricted because it runs counter to "the good of society" or "the common good."d. Collectivism

13. Individualism is built on two central tenets:d. An emphasis on the importance of guaranteeing individual freedom and self expression and the belief that the welfare of society is best served by letting people pursue their own economic self-interest

14. The benefits of doing business in a country are a function of all of the following, excepta. Its present wealthb. The size of the marketc. Its past growthd. Its future growth prospects

15. Which of the following is not a reason that would account for the spread of democracy?a. New information and communication technologies reducing the state's ability to control access to uncensored informationb. The unchallenged pressure of entrepreneurs and other business leaders for less accountable and closed governmentsc. The economic advances of the past quarter century leading to the emergence of increasingly prosperous middle and working classes pushing for democratic reformsd. Totalitarian regimes failing to deliver economic progress to the vast bulk of their populations

16. The Cold War was essentially a war between _____, championed by the now-defunct Soviet Union and _____, championed by the United States.a. Collectivism, individualism

17. Which of the following provides exclusive legal rights to authors, composers, playwrights, artists and publishers to publish and disperse their work as they see fit?d. Copyrights

18. This law Passed by the United States in 1970 makes it illegal to bribe a foreign government official in order to maintain business over which that foreign official has authority and requires all publicly traded companies to keep detailed records that would allow determining whether a violation of the act has occurred is known as thec. Foreign Corrupt Practices Act

19. Safety standards to which a product must adhere are set byb. Product safety laws

20. Philosophers David Hume, Adam Smith and John Stuart Mill all supporteda. Individualism

21. The common law systema. Is based on tradition, precedent and custom

22. A theocratic law system isc. One in which the law is based on religious teachings

23. The U.S. practices which of the following law system?b. Common law

24. The importance of guaranteeing individual freedom and self-expression is a central tenet ofb. Individualism

25. Design and names by which merchants or manufacturers designate and differentiate their products are known asb. Trademarks

26. A _____ grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacture, use or sale of that invention.d. Patent

27. Which of the following statements about political systems and their interrelated dimensions is not true?a. Systems that emphasize collectivism tend toward totalitarianismb. Democratic societies can emphasize a mix of collectivism and individualismc. It is impossible to have totalitarian societies that are not collectivistd. Systems that place a high value on individualism tend to be democratic

28. Identify the incorrect statement pertaining to innovation and entrepreneurship.a. They require strong property rightsb. They require state ownership of all means of productionc. They require a market economyd. They are the engines of growth

29. Identify the country that is ruled by a totalitarian dictatorship that constrains political freedom but has moved toward greater individual freedom in the economic sphere.c. China

30. The likelihood that economic mismanagement will cause drastic changes in a country's business environment that hurt the profit and other goals of a particular business enterprise is known asc. Economic risk

31. Antitrust laws in the U.S. are designed toa. Outlaw monopolies

32. Identify the United Nations body that 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.b. CIGS

33. Which of the following statement about the trade related aspects of intellectual property rights agreement is not true?a. It obliged WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 yearsb. It provided the very poorest countries 10 years to comply with its rules of intellectual property protectionc. It was designed to oversee enforcement of much stricter intellectual property regulations, beginning in 1995d. It directed rich countries to comply with its rules of intellectual property protection within 5 years

34. Identify the incorrect statement pertaining to socialism.c. Socialist ideology split into two camps

35. Originally the pure form of democracy was practiced in which of the following states?d. Greece

36. Democratic ideals and free market economies are consistent withd. Individualism

37. Which of the following statements about political systems and their interrelated dimensions is not true?a. Systems that place a high value on individualism tend to be democraticb. It is impossible to have totalitarian societies that are not collectivistc. Democratic societies can emphasize a mix of collectivism and individualismd. Systems that emphasize collectivism tend toward totalitarianism

38. When a political system stresses the primacy of collective goals over individual goals the system is referred to as beingc. Collectivist

39. In all of the following scenarios, the costs of doing business in a country tend to be greater, except wherea. Political payoffs are required to gain market accessb. Adhering to local laws and regulations is costlyc. There is a highly developed infrastructural supportd. Supporting infrastructure is lacking

40. A _____ system is based on a very detailed set of laws organized into codes.d. Civil law

41. Identify the incorrect statement regarding China's political system.a. It is nominally a communist stateb. In the economic sphere it strictly adheres to communist ideologyc. It was under Communist Party rule in the late 1970s when communism was at its high pointd. It has substantial limits to individual political freedom

42. Individualism can best be described by which of the following statements?b. It is a philosophy suggests that an individual should have freedom over his or her economic and political pursuits

43. The political economy of many of the world's nation-states has changed radically since the late 1980s. All of the following are trends that have been evident excepta. A wave of democratic revolutions has swept the worldb. Mixed economies are fast replacing market economiesc. Totalitarian governments collapsed and have been replaced by democratically elected governmentsd. There has been a strong move away from centrally planned economies toward free market economic models

44. Until the 1980s, many Latin American countries practicedb. Right-wing totalitarianism

45. According to studies by Transparency International which of the following countries has higher levels of corruption?b. China

46. _____ involves removing legal restrictions to the free play of markets, the establishment of private enterprises and the manner in which private enterprises operate.b. Deregulation

47. Totalitarianisma. Is a form of government in which one person or political party exercises absolute control over all spheres of human life

48. This system of government generally permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to the rise of communism.a. Right-wing totalitarianism

49. This refers to a political system in which government is by the people, exercised either directly or through elected representatives.c. Democracy

50. Identify the incorrect statement pertaining to a country's political economy.a. It is independent of the culture of a nationb. It is a combination of interdependent political, economic and legal systemsc. Its interacting systems affect the level of economic well-beingd. Its various systems interact and influence each other

51. Karl Marx was an advocate ofb. Socialism

52. Identify the incorrect statement regarding individualism.a. It propagates prob. It advocates for a socialist political systemc. It promotes free market economicsd. It creates a pro-business environment

53. 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. Mixed

54. Identify the incorrect statement pertaining to the legal systems of countries.a. They are influenced by the prevailing political system of the countryb. They are of immense importance to international businessc. They are almost the same for all countriesd. They can affect the attractiveness of a country as an investment site or market

55. In a pure market economyb. All productive activities are privately owned

56. The TRIPS agreement was designed toc. Oversee a much stricter enforcement of intellectual property regulations

57. Social democracyd. Has had an important influence in countries like India and Brazil