Question 1

Grease payments or speed money are allowable under U.S. law as a way to expedite the

Accepted Answer

A)   implementation of a new government office.
B)   incoming federal income tax.
C)   performance of a routine government action.
D)   creation of new state-owned business.
E)   breach of the rule of law.F) A) and E)
G) A) and D)

Question 2

How do patents, copyrights, and trademarks differ from each other?

Accepted Answer

Patents, copyrights, and trademarks esta...

Question 3

How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?

Accepted Answer

The political, economic, and legal envir...

Question 4

Theft, piracy, and blackmail by private individuals or groups are examples of

Accepted Answer

A)   private consumption.
B)   private practice.
C)   privacy tort.
D)   private action.
E)   privacy norms.F) A) and D)
G) None of the above

Question 5

Which form of government involves one person or political party that exercises absolute control over all spheres of human life and prohibits opposing political parties?

Accepted Answer

A)   capitalism
B)   totalitarianism
C)   pure democracy
D)   republicanism
E)   representative democracyF) A) and E)
G) B) and C)

Question 6

A textbook author would apply for a patent to obtain the exclusive legal rights associated with their written piece.

Accepted Answer

A) True 
 B)False

Question 7

One way to assess a political system is by understanding the emphasis on individualism or collectivism.

Accepted Answer

A) True 
 B)False

Question 8

Explain the role of grease payments and how they are viewed by the U.S. government.

Accepted Answer

Grease payments are facilitating or expe...

Question 9

Energy for Everyone wanted to establish operations in the country of Imol but decided against it when officials from Imol demanded a bribe in order for the company to open the office. This bribe is an example of

Accepted Answer

A)   a market economy.
B)   a laissez-faire policy.
C)   a public action.
D)   a mixed economy.
E)   a private action.F) A) and E)
G) A) and B)

Question 10

While he was shopping for new clothes, Manuel noticed there was a sale on shirts by Ralph Lauren. The Ralph Lauren name is an officially registered ________ in menswear clothing.

Accepted Answer

A)   intellectual property
B)   patent
C)   contract
D)   copyright
E)   trademarkF) A) and B)
G) A) and E)

Question 11

After the collapse of communism in Russia, successful business owners often had to pay "protection money" to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of

Accepted Answer

A)   active violation.
B)   public action.
C)   private action.
D)   boundary spanning.
E)   industrial espionage.F) C) and D)
G) B) and C)

Question 12

Intellectual property laws protect

Accepted Answer

A)   the originator of a new invention.
B)   government officials when travelling to foreign countries.
C)   the parts supplier in an international transaction.
D)   individuals who want to open a franchise of a retail store.
E)   a company from losing business to a monopoly.F) C) and E)
G) A) and D)

Question 13

On the Belif peninsula, citizens are restricted in how much land they can own if it creates opposition to the rule of the "common good." What is the political system of the Belif peninsula based on?

Accepted Answer

A)   individualism
B)   democracy
C)   collectivism
D)   capitalism
E)   protectionismF) B) and E)
G) A) and E)

Question 14

All of the books in a library have a ________, which shows the exclusive legal rights of the author of the book.

Accepted Answer

A)   copyright
B)   trademark
C)   libel
D)   patent
E)   folkwayF) A) and D)
G) All of the above

Question 15

In a totalitarian country, all the constitutional guarantees on which representative democracies are built-an individual's right to freedom of expression and organization, a free media, and regular elections-are denied to the citizens.

Accepted Answer

A) True 
 B)False

Question 16

Karli invented a fitness board and has some interest from major athletic equipment retailers. Before she agrees to work with the retailers, she wants to protect her invention so it is her sole property to manufacture and sell. What does Karli need to help her do this?

Accepted Answer

A)   copyright
B)   trademark
C)   patent
D)   warranty
E)   service markF) A) and C)
G) B) and E)

Question 17

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on

Accepted Answer

A)   democracy.
B)   collectivism.
C)   individualism.
D)   capitalism.
E)   privatization.F) B) and C)
G) A) and B)

Question 18

Varsa Incorporated, a multinational giant, runs a number of diversified businesses. The intellectual property of the firm would include

Accepted Answer

A)   income arising from renting land and buildings.
B)   profits arising from the sale of agricultural crops.
C)   interest earned by lending capital to other firms.
D)   all computer software for budgeting designed by employees.
E)   investments made in raw materials and machinery.F) A) and C)
G) A) and D)

Question 19

Democracy, in its purest form, is based on the belief that

Accepted Answer

A)   citizens should be directly involved in decision making.
B)   political freedom of the citizens should be limited.
C)   citizens are responsible for their own economic health and thus need no government.
D)   individual freedom in the economic sphere should be restricted.
E)   one person should have an absolute control over all the citizens of a nation.F) A) and C)
G) A) and E)

Question 20

A country's ________ system is a part of the political economy.

Accepted Answer

A)   religious
B)   value
C)   demographic
D)   legal
E)   technologicalF) B) and D)
G) C) and E)

Exam 2: National Differences in Political, Economic, and Legal Systems

How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?

Correct AnswerverifiedThe political, economic, and legal envir...View AnswerShow Answer

One way to assess a political system is by understanding the emphasis on individualism or collectivism.

Correct AnswerverifiedShow Answer

A textbook author would apply for a patent to obtain the exclusive legal rights associated with their written piece.

Correct AnswerverifiedShow Answer

In a totalitarian country, all the constitutional guarantees on which representative democracies are built-an individual's right to freedom of expression and organization, a free media, and regular elections-are denied to the citizens.

Correct AnswerverifiedShow Answer

All of the books in a library have a ________, which shows the exclusive legal rights of the author of the book.

Correct AnswerverifiedShow Answer

While he was shopping for new clothes, Manuel noticed there was a sale on shirts by Ralph Lauren. The Ralph Lauren name is an officially registered ________ in menswear clothing.

Correct AnswerverifiedShow Answer

Theft, piracy, and blackmail by private individuals or groups are examples of

Correct AnswerverifiedShow Answer

Grease payments or speed money are allowable under U.S. law as a way to expedite the

Correct AnswerverifiedShow Answer

How do patents, copyrights, and trademarks differ from each other?

Correct AnswerverifiedPatents, copyrights, and trademarks esta...View AnswerShow Answer

A country's ________ system is a part of the political economy.

Correct AnswerverifiedShow Answer

Varsa Incorporated, a multinational giant, runs a number of diversified businesses. The intellectual property of the firm would include

Correct AnswerverifiedShow Answer

Which form of government involves one person or political party that exercises absolute control over all spheres of human life and prohibits opposing political parties?

Correct AnswerverifiedShow Answer

Karli invented a fitness board and has some interest from major athletic equipment retailers. Before she agrees to work with the retailers, she wants to protect her invention so it is her sole property to manufacture and sell. What does Karli need to help her do this?

Correct AnswerverifiedShow Answer

Intellectual property laws protect

Correct AnswerverifiedShow Answer

On the Belif peninsula, citizens are restricted in how much land they can own if it creates opposition to the rule of the "common good." What is the political system of the Belif peninsula based on?

Correct AnswerverifiedShow Answer

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on

Correct AnswerverifiedShow Answer

Democracy, in its purest form, is based on the belief that

Correct AnswerverifiedShow Answer

Energy for Everyone wanted to establish operations in the country of Imol but decided against it when officials from Imol demanded a bribe in order for the company to open the office. This bribe is an example of

Correct AnswerverifiedShow Answer

After the collapse of communism in Russia, successful business owners often had to pay "protection money" to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of

Correct AnswerverifiedShow Answer

Explain the role of grease payments and how they are viewed by the U.S. government.

Correct AnswerverifiedGrease payments are facilitating or expe...View AnswerShow Answer

Correct Answer
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The political, economic, and legal envir...
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Patents, copyrights, and trademarks esta...
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Correct Answer
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Grease payments are facilitating or expe...
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