Rogarian Arguments

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Quiz – Chapter 2
Name:
U number:

1. The dramatic recovery of Russian Economy in recent days can be attributed to:

a.record world prices for oil and gas
b.the succession of Vladimir Putin as president
c.Putin slashed subsidies to state-owned enterprises
d.the price increases for imports due to ruble’s devaluation e. all of the above can be attributed

2. According to author William Greider, executives and marketers must take into account the following new realities in the global economic situation:

a. production has become “uncoupled” from employment b. the world economy dominates the scene
c. the struggle between capitalism and socialism is over d. the growth of e-commerce diminishes the importance of national barriers e. all of the above

3. The rampant corruption and bribery witnessed in a nation’s economy is referred to as:

a. re-nationalization
b. managed democracy
c. Kleptocracy
d. autocracy
e. None of the above

4. One of the distinguishing features of Centrally Planned Capitalism economic system is:

a. all production resources are privately owned
b. the state has broad powers to serve the public interest as it sees fit c. command resource allocation is utilized extensively in private resource ownership environment d. market allocation policies are permitted within and environment of state ownership e. none of the above

5. The Swedish government has significant holdings in key business sectors and has hybrid economic system that incorporate:

a. market capitalism and centrally planned socialism b. centrally planned socialism and market socialism
c. centrally planned socialism and capitalism
d. market socialism and market capitalism
e. market capitalism and socialistic capitalism

6. Which type of economic system is characterized by command resource allocation and private resource ownership:

a. market capitalism
b. centrally-planned capitalism
c. market socialism
d. centrally-planned socialism
e. None of the above

7. Which type of economic system is characterized by market resource allocation and state resource ownership:

a. market capitalism
b. centrally-planned capitalism
c. market socialism
d. centrally-planned socialism
e. None of the above

8. China predominantly follows an economic system that can be classified under:

a.centrally planned socialism
b.market socialism
c.market capitalism
d.centrally planned capitalism
e.socialistic capitalism

9. Which of the following is true about economic output in China today:

a.the state sector accounts for about 75 percent of output b.the state and private sectors each account for about 50 percent of output c.the private sector accounts for about 75 percent of output d.the private sector is virtually nonexistent in China

e.the state sector is virtually nonexistent in China

10. The Washington, DC-based Heritage Foundation compiles a survey of over 150 countries ranked by degree of economic freedom. Although there are a number of key economic variables which are considered in this ranking it does not include:

a.monetary policy
b.banking policy
c.black market
d.property rights
e.none of the above

11. Singapore banned the import, manufacture, and sales of chewing gum in the country since wads of gum were making a mess on sidewalks, buses, and subway trains. Violators are subject to severe penalties and before buying a pack consumers must register their names and addresses. This according to author William Greider demonstrates that Singapore’s...
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