Exam 2: National Differences in Political Economy

The Boldovian government took Sea Lion Inc.,a domestic,private shipbuilding firm,into state ownership to save the company from bankruptcy.However,the other private competitors in the shipbuilding industry were raged at this decision of the government.As a result,the government had to reduce the tax burden on all other private shipbuilding firms so that both the state-owned enterprise and private firms could co-exist.According to this information,Boldovia has most likely adopted a _____ economy.

Which of the following can be traced to the ancient Greek philosopher,Aristotle?

When law courts interpret civil law,they do so with regard to tradition,precedent,and custom.

Which of the following is true about property rights?

When product safety laws are tougher in a firm's home country than in a foreign country,the ethical thing to do is to adhere to home-country standards.

A common feature of many right-wing dictatorships is:

Discuss the philosophy that underlies intellectual property laws.

Which of the following legal systems is most likely to be based on tradition,precedent,and custom?

A _____ law system is based on a detailed set of laws organized into codes.

Describe the significance of Contracts for the International Sale of Goods (CIGS).

The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits,and the Cedian ideology is "private profit over public good." In this context,it can be said that Cedia most likely follows the philosophy of:

The sale of state-owned enterprises to independent,nonpublic investors is referred to as:

Describe the Foreign Corrupt Practices Act.

_____ generally permits individual economic freedom,but restricts individual political freedom on the grounds that it would lead to the rise of communism.

Which of the following statements is true about the difference between contracts in common law and civil law systems?

Collectivist-inclined totalitarian states tend to enact laws that severely restrict private enterprises,whereas the laws enacted by governments in democratic states,where individualism is the dominant political philosophy,tend to be pro-private enterprise and pro-consumer.This indicates that the:

In most totalitarian states:

International businesses lobby their respective governments to push for international agreements to ensure that intellectual property rights are protected and that the law is enforced.

The common law system enjoys a degree of flexibility not found in other systems because :

Contracts drafted under a common law framework tend to be very detailed with all contingencies spelled out.