QUESTION The term political economy is used to stress the fact that the political, economic, and legal systems of a country are independent of each other. Indicate whether the statement is true or false. ANSWER FALSE We use the term political economy to stress that the political, economic, and legal systems of a country […]
QUESTION Political systems that emphasize collectivism tend to be democratic, while political systems that place a high value on individualism tend to be totalitarian. Indicate whether the statement is true or false. ANSWER FALSE Political systems that emphasize collectivism tend to be totalitarian, while political systems that place a high value on individualism tend […]
QUESTION Plato did not equate collectivism with equality. Indicate whether the statement is true or false. ANSWER TRUE Plato did not equate collectivism with equality; he believed that society should be stratified into classes, with those best suited to rule administering society for the benefit of all.
QUESTION The social democrats believed that socialism could be achieved only through violent revolution and totalitarian dictatorship. Indicate whether the statement is true or false. ANSWER FALSE The social democrats committed themselves to achieving socialism by democratic means, turning their backs on violent revolution and dictatorship.
QUESTION Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses). Indicate whether the statement is true or false. ANSWER TRUE Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).
QUESTION One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest. Indicate whether the statement is true or false. ANSWER FALSE In collectivist societies, an individual’s right to do something may be restricted on the grounds that it runs counter to […]
QUESTION In the context of the environment, globalization critics argue that: A. free trade discourages firms from advanced nations to move manufacturing facilities to less developed countries. B. adhering to labor and environmental regulations significantly increases the costs of manufacturing enterprises. C. manufacturing enterprises are put at a competitive disadvantage by moving their production facilities […]
QUESTION Silver Fire Electric Inc., a U.S.-based company, has productive activities in more than two countries. As a result, it would be most appropriate to refer to Silver Fire Electric as what type of enterprise? A. Greenfield B. Universal C. Private D. Multinational E. Public ANSWER D A multinational enterprise (MNE) is any business […]
QUESTION The NAFTA was formed in 1994 between: A. Canada, Mexico, and the United States. B. the United States, Brazil, and Argentina. C. Canada, Argentina, and Mexico. D. Colombia, Venezuela, and Brazil. E. Uruguay, Colombia, and Costa Rica. ANSWER A The North American Free Trade Agreement (NAFTA) was formed in 1994 between Canada, Mexico, […]
QUESTION What are mini-multinationals? A. Multinational firms from relatively small countries in terms of area B. Multinationals from the developing nations of the world C. Multinational firms that operate in only one foreign country D. Medium-sized and small multinationals E. Subsidiaries of large multinationals in foreign countries ANSWER D Medium-size and small multinationals are […]
