Chapter 2 MiGE
All right-wing dictatorships display an affinity toward socialist or communist ideas. True or False
False
One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest. True or False
False
Political systems that emphasize collectivism tend to be democratic, while political systems that place a high value on individualism tend to be totalitarian. True or False
False
Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses). True or False
True
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. True or False
True
Before Hugo Chavez took power in 1999, what type of economic system was in place in in Venezuela? Multiple Choice a. Command b. Mixed c. Socialist d. Totalitarian e. Market
b
Intellectual property rights are intended to a. promote international trade. b. protect original ideas/works. c. protect specific trade groups. d. stimulate growth in an economy. e. protect the consumers.
b
The organization of approximately 185 countries that have all signed treaties to protect intellectual property rights is known as the a. World's Safety Organization. b. World Intellectual Property Organization. c. World Property Organization. d. World Trade Organization. e. Intellectual Property Organization.
b
The practices of bribery Multiple Choice a. is only associated with corrupt government officials in developing countries. b. is a normal part of business in some countries. c. can result in negative economic growth. d. is always illegal and unethical regardless of the situation. e. can usually be avoided by bigger companies.
b
Using the information on political economy in your text and the case above, how would you characterize Venezuela's political economy under President Nicolas Maduro? Multiple Choice a. Pure market economy b. Pseudo-democracy c. Dictatorship d. Pure command economy e. Totalitarian state
b
Which of the following is inconsistent with Marxist philosophy? Multiple Choice a. monopoly of state-owned companies in certain industries b. selling state-owned enterprises to private investors c. substantial limits on individual political freedom d. concern over public good rather than private profit e. opposing the ideologies of capitalist societies
b
Based on the information on political economy in the text and the case on Venezuela above, which statement best characterizes the situation in Venezuela? Multiple Choice a. Greater privatization should be expected in the short term. b. Further nationalization of business should not be expected. c. There is probably a high level of corruption within the government. d. Bribery is likely to be fairly low as a result of the authoritarian state. e. The country is very close to true dictatorship.
c
How can Venezuela's economic system best be described during Hugo Chavez's years as president? Multiple Choice a. Market b. Command c. Mixed d. Totalitarian e. Socialist
c
Hugo Chavez's move to nationalize troubled firms is consistent with a Multiple Choice a. capitalist society. b. pure democracy. c. common law system. d. mixed economy. e. market economy.
d
In January 2006, a Shanghai court said Coffeebux's decision to use the logo and similar sounding name to Javabucks was a. purely a coincidence. b. within their rights. c. a common occurrence in the food and beverage industry. d. appropriate. e. "clearly malicious"
e
The philosophy behind intellectual property rights is to a. create massive competition. b. promote less creativity. c. increase national income levels. d. reward international entities. e. reward the creator of an idea.
e
Command economies provide a more favorable environment for innovation and entrepreneurs than market economies. True or False
false
In a pure command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all dictated by the interaction of demand and supply. True or False
false
