Exam 2: National Differences in Political Economy

In the context of common law,which of the following terms refers to the ways in which laws are applied in specific situations?

Judges under a civil law system have less flexibility than those under a common law system.

The Cold War was in many respects a war between collectivism,championed by the former Soviet Union,and individualism,championed by the United States.

In practical terms,_____ translates into an advocacy for democratic political systems and free market economics,which in general creates the most favorable environment for international businesses to operate in.

A common law system tends to be less adversarial than a civil law system.

Which of the following is true about grease payments?

Strong enforcement of intellectual property laws:

Which of the following is most likely to be advocated by individualism?

Describe in brief the different forms of totalitarianism.

A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance.Many business executives argue that this:

In practical terms,individualism translates into an advocacy for democratic political systems and market economics.

In a representative democracy,elected representatives who fail to perform their job adequately cannot be voted out of office at the next election.

Compared to common law system,it is more expensive to draw up contracts in a civil law jurisdiction.

As a result of _____ protection,the Nike "Swoosh" logo is protected from being used by any other shoe manufacturer.

_____ argued that private property is more highly productive than communal property and will thus stimulate progress.

Democracy,in its purest form,is based on the belief that:

In the early twentieth century,the socialist ideology split into two broad camps and the people who believed that socialism could be achieved only through violent revolution and totalitarian dictatorship were referred to as:

All right-wing dictatorships display an affinity toward socialist or communist ideas.

When firms do not wish to accept the Contracts for the International Sale of Goods,they often opt for arbitration by a recognized arbitration court to settle contract disputes.

Bribes are legal payments meant to facilitate performance of duties that the recipients are already obligated to perform.