Terms in this set (74)"Not all democracies are free, as some still restrict certain political and civil liberties." Which of the following countries best fits this argument? A) Great Britain D) Russia Capricorn Creative Inc., a U.S.-based advertising firm, was the first in the advertising industry to identify the growth potential of Brazil and to make huge investments in its economy. As a result, the firm was able to build brand loyalty and gain experience in that country's business practices. In the language of business strategy, Capricorn Creative has typically benefited from: A) A first-mover advantage. A) A first-mover advantage. In economic terms, the long-run monetary benefits of doing business in a country are most likely to be a function of the: A) Political history of the country. D) Present wealth (purchasing power) of consumers of the country. Which of the following is broadly defined as the development of new products, processes, organizations, management practices, and strategies? A) Economic deregulation D) Innovation A black economy is most likely to be prevalent when A) Large amounts of economic activity are in the form of legally recorded cash transactions. C) People engage in barter agreements to avoid paying taxes. When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of risk? A) Demographic E) Political Which of the following statements is true about the changing economic system since the 1980s? A) The extent to which property rights are protected has declined. D) There has been a shift away from a mixed economy. Which of the following measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country? A) Income equity ratio D) Gross national income As a result of _____, large amounts of economic activity in India are unrecorded and the official GDP figures of the country fail to tell the entire story of the economy. A) Closed totalitarianism E) Active bartering The country of Baloonistan is classified as having low human development (the quality of life is poor). This means its HDI is: A) Around 80. C) A score of less than 0.5 on the HDI scale. In 2014, if the GNI per capita of India was $1,570 and its PPP per capita was $5,630, this means that the cost of living in India was lower than the cost of living in: A) Germany. E) The United States. Which of the following creates an environment that is conducive to product and process innovations and to entrepreneurial activity? A) Communism D) Privatization Which of the following is most likely to prove detrimental to democracy and international business? A) Emergence of different civilizations, each of which has its own value systems and ideology A) Emergence of different civilizations, each of which has its own value systems and ideology Star Volans Inc. is planning on expanding its business globally. In terms of the costs involved in conducting business in a country, it will be most economical for the company if it chooses a country: A) Where laws regarding product safety, safety in the workplace, and environmental pollution are extremely stringent. B) Where politicians are held accountable by the electorate. When the country of Swazimoa sells Swazimoa Telecom, a state-owned monopoly to private investors, it is engaging in: A) Grandstanding. C) Privatization. Which of the following is an indicator of low human development in a country? A) Rapid
"democratization" of political communities E) Score of 0.3 on the HDI scale In the context of cost, which of the following can be considered as the most attractive market or investment site? A) A country with stringent product safety laws and huge liability insurance rates B) A country that has a well-developed body of business contract law Which of the following statements is most likely to be true about the economic prospects of a country? A) Countries which do not provide any protection for property rights tend to achieve greater economic growth rates than the countries in which property rights are protected. E) The economic system and property rights regime are reasonably good predictors of economic prospects of a country. Which of the following statements is true of purchasing power parity (PPP)? A) China's GNI PPP per capita is higher than that of the United States. D) The PPP data gives a static picture of economic development. Although China and India are very large markets when measured by number of consumers, they are relatively small markets when measured in economic terms due to their: A) Small share in the world output. D) Limited purchasing power. The government of Nerumbia wants to open the country's economy to international business, and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government? A)
Investing in infrastructure and in the required supporting businesses A) Investing in infrastructure and in the required supporting businesses Check my work Check My Work button is now disabledItem 22 Item 22 0.4 points A) Pay huge taxes. E) Continue acting like state monopolies. The country of Marita ensures strong legal protection of property rights. It is likely that the businesses and individuals in Marita will: A) Avoid privatization. C) Want to invest more in innovations. Which of the following steps is most likely to be involved in the deregulation of an economy? A) Increasing restrictions on direct investment by foreign enterprises and international trade C) Privatizing state-owned enterprises Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started to sell state-owned assets such as the British telephone company? A) Communist C) Privatization Check my work Check My Work button is now disabledItem 1 Item 1 0.4 points A) Economic risks are independent of political risk. C) One visible indicator of economic risk is the level of business and government debt in the country. Only a totalitarian regime that is committed to which of the following is capable of promoting economic growth? A) Command economy C) Market system and strong protection of property rights Which of the following creates an unfavorable environment for innovations and entrepreneurship? A) State monopoly in production A) State monopoly in production Check my work Check My Work button is now disabledItem 4 Item 4 0.4 points A) Clash of value systems and ideology between
civilizations. A) Clash of value systems and ideology between civilizations. The risks of doing business are most likely to be the highest in a country that: A) Faces frequent changes in
government and government policy. A) Faces frequent changes in government and government policy. Which of the following is most likely to be true about the overall attractiveness of a country as a potential market or investment site for an international business?
A) The risks associated with doing business are low in developing nations where the governments have huge debts. E) The costs and risks associated with doing business in a foreign country tend to be greater in politically unstable nations. Which of the following measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country? A) Income equity ratio C) Gross national income You can adjust GNI per capita by purchasing power to account for differences in the: A) Geographical area. D) Cost of living. Check my work Check My Work button is now disabledItem 9 Item 9 0.4 points A) Privatization involves replacing a state-owned monopoly with a private monopoly. B) When newly privatized firms are extensively protected from foreign competition, they have little incentive to restructure their operations to become more efficient. The government of Greenland Republic protects its newly privatized firms from foreign competition by imposing stringent barriers to international trade and foreign direct investment. As a result of this, the newly privatized firms will A) Pay huge taxes. D) Continue acting like state monopolies. Check my work Check My Work button is now disabledItem 11 Item 11 0.4 points A) Sociological E) Economic Which of the following is based on three measures: life expectancy at birth, educational attainment, and average incomes based on PPP estimates?
A) Cost of Living Index D) Human Development Index As a result of _____, large amounts of economic activity in India are unrecorded and the official GDP figures of the country fail to tell the entire story of the economy. A) Closed totalitarianism B) Active bartering Which of the following best exemplifies an entrepreneur? A) Ryan invented an anti-aging formulation and sold it to a major pharmaceutical firm. C) Javier purchased an invention made by his friend to start a company that processes plastic bags into synthetic cloth. Which of the following is an indicator of low human development in a country? A) Higher GNI per capita than the United States B) Score of 0.3 on the HDI scale Which of the following best exemplifies a first-mover advantage? A) The level of satisfaction Simon experienced when dining at the Emerald Inn was greatest the first time, and thereafter it reduced each time he dined there. D) Venus Inc. has more than 50 percent market share in the telecom industry, because no other company had invested in this industry before Venus Inc. The Human Development Index comes close to Amartya Sen's conception of how development should be measured, although which of the following, suggested by Sen in his thesis, is not included in the index? A) Basic average income D) Political freedom When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of risk? A) Political A) Political Which of the following creates an environment that is conducive to product and process innovations and to entrepreneurial activity? A) Communism C) Privatization A black economy is most likely to be prevalent when A) A country's GNI per capita exceeds $30,000. D) People engage in barter agreements to avoid paying taxes. In the context of the changing political economy since the late 1980s, which of the following statements is true? A) Most of the world's nation-states are providing greater political and civil
liberties to their citizens. A) Most of the world's nation-states are providing greater political and civil liberties to their citizens. Which of the following is broadly defined as the development of new products, processes, organizations, management practices, and strategies? A) Benchmarking C) Innovation The absence of a legal system that protects property rights and the lack of machinery to enforce that system in a market economy usually results in: A) Reduced barriers
to foreign direct investment and international trade. E) The lack of incentive to engage in economic activity "Not all democracies are free, as some still restrict certain political and civil liberties." Which of the following countries best fits this argument? A) Great Britain E) Russia The government of Nerumbia wants to open the country's economy to international business, and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government? A) Shifting toward command economy or an economy where property rights are not enforced strictly D) Investing in infrastructure and in the required supporting businesses Which of the following statements is most likely to be true about the risks of doing business in a country? A) Political risk tends to be low in those countries that have high inflation and falling living standards. C) One visible indicator of economic risk is the level of business and government debt in the country. When Galaxy Ventures, a real estate company, entered the low-cost housing business, the market was already saturated with other players. Thus, the company
was forced to exit the market due to lack of customer loyalty and substantial dividends. Which of the following is a term used to described the situation faced by the company? A) Late-mover disadvantages In the Republic of Lantharia, the state-owned telephone company enjoys a monopoly. The government of Lantharia Republic wants to maximize the operating efficiency of this company by privatizing it. Which of the following is most likely to help the government succeed in this endeavor? A) Imposing high corporate taxes on the company immediately after its privatization E) Splitting the company into independent units to compete with each other One common measure of economic development is a country's: A) Gender ratio. E) Gross national income. Economic advances in many countries have led to the: A) Emergence of increasingly prosperous middle and working classes. A) Emergence of increasingly prosperous middle and working classes. A black economy is most likely to be prevalent when: A) The expenses of the government are less than its income. D) People engage in barter agreements to avoid paying taxes. As a result of _____, large amounts of economic activity in India are unrecorded and the official GDP figures of the country fail to tell the entire story of the economy. A) Closed totalitarianism C) Active bartering Countries with which of the following are more likely to attain high and sustained economic growth rates and are thus a more attractive location for international business? A) Totalitarian dictatorships B) Democratic regimes Which of the following steps is most likely to be involved in the deregulation of an economy? A) Increasing restrictions on direct investment by foreign enterprises and international trade B) Privatizing state-owned enterprises
The government of Great Lanthania is planning to adopt a market-based economic system. To be able to do so, the government of this country should: A) Introduce stringent foreign investment regulations. C) Adopt privatization. How does privatization help stimulate gains in economic efficiency? A) It results in reservation of heavy industry for state ownership and the increase of import tariffs. C) It provides incentives to new private owners to search for increases in productivity and to enter new markets. Which of the following measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country? A) Income elasticity of demand D) Gross national income The cost of doing business is most likely to be the lowest in: A) Primitive or undeveloped economies. D) Open democratic societies. Which of the following is an indicator of low human development in a country? A) Score of 0.3 on the HDI scale A) Score of 0.3 on the HDI scale In Samuel Huntington's thesis, global terrorism is a product of the: A) Declining liberal democratic ideals. B) Clash of value systems and ideology between civilizations. Which of the following is most likely to be implemented by a country as a part of deregulation? A) Removal of price controls A) Removal of price controls Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started to sell state-owned assets such as the British telephone company? A) Anti-globalization B) Privatization In the country of Mashwen, the state owns key industries such as energy and transportation. The rest of the industries are privately owned. Mashwen is a _____ economy. A) Planned C) Mixed The country of Baloonistan is classified as having low human development (the quality of life is poor). This means its HDI is: A)
Greater than 5.0 but less than 7.0. B) A score of less than 0.5 on the HDI scale. According to the author Francis Fukuyama, the world is most likely witnessing the end of: A) Free market economies. B) Humanity's ideological evolution. Which of the following statements is most likely to be true about the economic prospects of a country? A) Countries where property rights are not well respected and where corruption is rampant always have very low levels of economic growth. D) The economic system and property rights regime are reasonably good predictors of economic prospects of a country. In the context of political economy, one notable development of the past 30 years has been the spread of: A) Totalitarian governments. C) Democracy. During the late 1980s and early 1990s, many of the world's nation-states moved away from: A) Free market capitalism. C) Totalitarian governments. How have new information and communication technologies, including the Internet, affected the political economy in general? A) They have
reduced a state's ability to control access to uncensored information. A) They have reduced a state's ability to control access to uncensored information. Sets with similar termsSOM 354 CH 376 terms amfernan SOM 354 Chapter 3 Test Review41 terms Sam_Levy123 ECON exam 240 terms sgf04 Bus5-187 - Chapter 3 - Quiz22 terms evcsanjose Sets found in the same folderChapter 2 National Differences in Political, Econo…62 terms cltee3TEACHER Global Chapter 1 HW50 terms trevor_gibbons2 Global Chapter 4 HW75 terms trevor_gibbons2 Chapter 5 HW74 terms trevor_gibbons2 Other sets by this creatorChapter 811 terms trevor_gibbons2 Chapter 62 terms trevor_gibbons2 Chapter 511 terms trevor_gibbons2 Chapter 313 terms trevor_gibbons2 Recommended textbook solutions American Government1st EditionGlen Krutz 412 solutions Criminal Justice in America9th EditionChristina Dejong, Christopher E. Smith, George F Cole 105 solutions Politics in States and Communities15th EditionSusan A. MacManus, Thomas R. Dye 177 solutions
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