Business

Which of the following terms best defines the relationship between the

QUESTION Which of the following terms best defines the relationship between the level of corruption and economic growth rate in a country? A. Directly proportional B. Inversely proportional C. Independent D. Positive correlation E. Zero correlation   ANSWER B Economic evidence suggests that high levels of corruption significantly reduce the foreign direct investment, level of […]

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Date: September 3rd, 2020

In the United States, the Foreign Corrupt Practices Act was passed dur

QUESTION In the United States, the Foreign Corrupt Practices Act was passed during the 1970s following revelations that: A. U.S. companies had bribed government officials in foreign countries in an attempt to win lucrative contracts. B. U.S. companies were involved in bribing U.S. government officials in cases related to major corporate and accounting scandals. C. […]

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Date: September 3rd, 2020

The Republic of Marwa has decided to open its economy to globalization

QUESTION The Republic of Marwa has decided to open its economy to globalization. Which of the following will facilitate this decision of Marwa? A. A strong commitment to communism B. A strong presence of private action in the nation C. Adopting the Contracts for the International Sale of Goods (CIGS) D. Creating a national environment […]

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Date: September 3rd, 2020

Which of the following best exemplifies facilitating or expediting pay

QUESTION Which of the following best exemplifies facilitating or expediting payments in business? A. Making payments to government officials not to cancel the business license after violating local laws B. Paying a lump sum amount in order to win a government tender for road construction in a foreign country C. Making unsolicited payments to the […]

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Date: September 3rd, 2020

Which of the following does the U.S. law and OECD convention allow as

QUESTION Which of the following does the U.S. law and OECD convention allow as an exception? A. Bribing a foreign government official to obtain a contract B. Failure to keep records that would reveal if a violation of the Foreign Corrupt Practices Act has occurred C. Grease payments or speed money D. Private action E. […]

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Date: September 3rd, 2020

Products of the mind, such as computer software, a screenplay, a music

QUESTION Products of the mind, such as computer software, a screenplay, a music score, or the chemical formula for a new drug, constitute: A. assets which receive no protection under law. B. non-performing assets. C. tangible assets. D. intellectual property. E. real property.   ANSWER D Intellectual property refers to property that is the product […]

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Date: September 3rd, 2020

In what type of economy are all businesses state owned, the rationale

QUESTION In what type of economy are all businesses state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals? A. Free market B. Deregulated C. Pure command D. Mixed E. […]

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Date: September 3rd, 2020

In comparison to market economies, command economies lack: A. governm

QUESTION In comparison to market economies, command economies lack: A. government interference in allocation of resources. B. dynamism and innovation. C. concern for the interests of the nation. D. commitment to communism. E. any opposition to private ownership.   ANSWER B In a command economy, state-owned enterprises have little incentive to control costs and be […]

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Date: September 3rd, 2020

In what type of economy are certain sectors of the economy left to pri

QUESTION In what type of economy are certain sectors of the economy left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning? A. Command B. Pure market C. Mixed D. Centrally planned E. Laissez-faire   ANSWER C In a mixed economy, certain sectors of the […]

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Date: September 3rd, 2020