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Exam 2: National Differences in Political Economy

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Question 41

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What are the three main types of legal systems in use around the world?

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The three types of legal systems in use ...

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Question 42

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Which of the following statements about the trade-related aspects of intellectual property rights agreement is false?

A) It was designed to oversee enforcement of much stricter intellectual property regulations,beginning in 1995.
B) It obliged WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years.
C) It directed rich countries to comply with its rules of intellectual property protection within five years.
D) It provided the very poorest countries 10 years to comply with its rules of intellectual property protection.

E) None of the above
F) C) and D)

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Question 43

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Which of the following statements about socialism is false?

Which of the following refers to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource?

Identify the United Nations body that establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations.

Discuss the different ways to protect intellectual property.

A state where political power is monopolized by a party,group,or individual that governs according to religious principles is best described as following:

Which of the following statements about the legal systems of countries is false?

Discuss why there is inefficiency in a monopoly situation.

The TRIPS agreement was designed to:

Explain the differences between common law and civil law systems by the approach of each to contract law.

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

What is deregulation?

A document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved is BEST known as a:

The number of command economies has fallen dramatically since the demise of communism in the late 1980s.

In a _____ economy,certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.

Deregulation involves removing legal restrictions to the free play of markets,the establishment of private enterprises,and the manner in which private enterprises operate.

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Contracts under a civil law system tend to be very detailed with all contingencies spelled out.

The Foreign Corrupt Practices Act allows for grease payments.