QUESTION If a country wants to improve its attractiveness as a place for doing business and as an investment site, it should: A. oppose the rule of law. B. ensure that the economic activity is heavily regulated by the state. C. move toward a market-based system. D. extensively restrict property rights. E. avoid enforcing intellectual […]
QUESTION The purchasing power parity for different countries is adjusted (up or down) depending upon whether a country’s cost of living is lower or higher than the cost of living in the United States. Indicate whether the statement is true or false. ANSWER TRUE To account for differences in the cost of living, one […]
QUESTION A composer can protect an original musical score from being copied and sold by someone else by acquiring for the score a(n): A. patent. B. warrant. C. trademark. D. copyright. E. affidavit. ANSWER D Copyrights are the exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and disperse their work […]
QUESTION Although countries such as China and India are currently relatively poor, their economies are already large in absolute terms and growing more rapidly than those of many advanced nations. Indicate whether the statement is true or false. ANSWER TRUE Although countries such as China and India are currently relatively poor, their economies are […]
QUESTION Patents, copyrights, and trademarks establish ownership rights over what type of property? A. Intellectual B. Real C. Tangible D. Non-performing E. Stolen ANSWER A Intellectual property refers to property that is the product of intellectual activity, such as computer software, a screenplay, a music score, or the chemical formula for a new drug. […]
QUESTION In Amartya Sen’s view, development is solely an economic process, and not a political process. Indicate whether the statement is true or false. ANSWER FALSE In Amartya Sen’s view, development is not just an economic process, but it is a political one too, and to succeed requires the “democratization” of political communities to […]
QUESTION Which of the following is a typical function of a trademark? A. It marks the sales territory for which individual salespeople are assigned. B. It restrains authors, composers, playwrights, artists, and publishers from trading their creative work. C. It signifies that a country is a member of the World Trade Organization. D. It acts […]
QUESTION The gross national income (GNI) per capita comes much closer to Amartya Sen’s conception of how development should be measured than narrow economic measures such as Human Development Index (HDI). Indicate whether the statement is true or false. ANSWER FALSE The HDI comes much closer to Sen’s conception of how development should be […]
QUESTION Which of the following protects the Nike “Swoosh” logo from being used by any other shoe manufacturer? A. Trademark B. Affidavit C. Patent D. Warrant E. Writ ANSWER A Trademarks are designs and names, often officially registered, by which merchants or manufacturers designate and differentiate their products.
QUESTION Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new organizations, new management practices, and new strategies. Indicate whether the statement is true or false. ANSWER TRUE There is substantial agreement among […]
