Question

Question 1

Which of these is NOT a reason that public corruption is detrimental to a nation's economy?

		Corrupt public officials misallocate scarce public resources
		Corruption hinders the development of fair markets
		Corruption undermines institutional trust
		Corruption may allow economic actors to bypass the impediments of poor-functioning institutions

estion 2

The major flaw of mercantilism is that mercantilists view trade as _________________.

		a positive-sum game in which trade benefits both importers and exporters
		a zero-sum game in which trade benefits both importers and exporters
		a zero-sum game in which trade is detrimental to exporters but beneficial to importers
		a zero-sum game in which trade is beneficial to exporters but detrimental to importers

Question 3

Based on your reading of The Travels of a T-Shirt in the Global Economy, which of these best describes the hukou system?

		An American system implemented in the 1940s that allowed Mexican laborers to cross into the U.S. to work on cotton farms while U.S. labor was fighting World War II.
		A Chinese system of household registration created in the 1950s that specifies where you live no matter where you are. It was designed to support the economic development plans of the new Communist China.
		A Japanese system of employment sharing that was developed after textile manufacturing came to Japan. A Japanese worker in the hukou system could work for any textile manufacturer in Japan under this agreement.
		A Vietnamese system of textile production. It involves a very specific process that creates significant efficiencies give Vietnam a comparative advantage in textile production.

Question 4

Which of these might you expect to see in a democratic regime but not in an authoritarian regime?

		State-owned media
		Elections in which only select groups of citizens are allowed to vote
		No access to state information
		A court system that is independent from the political system

uestion 5

Which of these is a way that businesses can mitigate political risks?

		MNEs can research, identify, and measure the potential political risks associated with a given country, helping them decide whether an investment in that country is appropriate.
		MNEs can buy political risk insurance.
		Neither A nor B are correct.
		Both A and B are correct.

uestion 6

Based on your reading of The Travels of a T-Shirt in the Global Economy, why does Rivoli argue that the "unwitting conspiracy" may work well in some countries but not in others?

		Some countries do not produce textiles so the unwitting conspiracy is irrelevant.
		The unwitting conspiracy depends on the size of the textile market. The smaller the textile market, the less effective the unwitting conspiracy is.
		The unwitting conspiracy depends on the amount of international trade. The larger a country's trade-to-GDP ratio, the less effective the unwitting conspiracy is.
		The unwitting conspiracy depends on government hearing citizens' demands. The less democratic a nation is, the less effective the unwitting conspiracy is.

Question 7

Sudan's government governs according to Islamic law. This system of government can be classified as _______________.

		Communism
		Theocracy
		Tribalism
		Right-wing authoritarianism

Question 8

AT&T recently purchased Time Warner. Regulators from the U.S., European Union, and other countries in which these companies operate reviewed the impacts this acquisition would have on the marketplace before they approved the acquisition. This review and approval process falls under what area of law?

		Tax law
		Competition law
		Tort law
		Employment law

Question 10

In recent years, it has come to light that several Arkansas politicians accepted cash bribes in return for steering taxpayer dollars to certain organizations. The politicians that steered this public money away from public functions in order to reap individual benefits were engaged in what classification of corruption?

Petty corruption

Corporate corruption

Grand corruption

Political corruption

Question 11

Based on your reading of The Travels of a T-Shirt in the Global Economy, how did China increase the labor supply in cities to meet the needs of a growing textile manufacturing industry in the 1980s?

		The Chinese government gradually liberalized the hukou system.
		The Chinese government subsidized workers who left other industries to work in the textile manufacturing industry.
		The Chinese government gradually liberalized the Bracero program.
		The Chinese government mandated that farm workers in rural China move to cities along the coast or risk losing their farm

Question 12

The Venezuelan government seized Crystallex International Corp.'s gold mine at Las Cristinas in order for the government to operate the gold mine itself. This is an example of which type of government seizure of private property?

		Confiscation
		Deprivation
		Expropriation
		Nationalization

Answer 1

Answer 1

Corruption may allow economic actors to bypass the impediments of poor-functioning institutions

Often Public institutuions may be slow to react and response in ceratin situations. It is often observed that there maybe a "plank" system hwere it baypasses poorly fuctioning mechanisms to avoid extra cost or time.

Answer 2

a zero-sum game in which trade is beneficial to exporters but detrimental to importers

It assumes that nations who export is the final beneficiary and country's which import ultimately lose out.

Answer 3

A Chinese system of household registration created in the 1950s that specifies where you live no matter where you are. It was designed to support the economic development plans of the new Communist China.

This is a meausre which inhibits internal population migration. This is a system where it makes the entry of a individual to higher tier cites and townships very difficult

Answer 4

A court system that is independent from the political system

In an authoritarian government the court system is always under the grasp of the governing body or the authority inn power.

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