Lecture 6 - Revision Quiz(3)

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Lecture 6 – Revision Quiz 
 
1. In the text, the term 'political economy' is used to stress that the political, economic and technical 
systems of a country are interdependent; that is, they interact and influence each other. 
 
True False 
 
2. Intellectual property rights, patent rights, copyright and trademarks are all part of the legal system. 
 
True False 
 
3. The free market view argues that international production should be distributed among countries 
according to the theory of comparative advantage. 
 
True False 
 
4. Democracies are not all the same. 
 
 True False 
 
5. Totalitarianism is a _________________ system in which one person or political party exercise 
absolute control over all aspects of life. 
 
A. capitalist 
 
B. political 
 
C. democratic 
 
D. voting 
 
 
6. A representative democracy features a number of safeguards that are typically enshrined in 
constitutional law. Which of the following is not one of those safeguards? 
 
A. Free media 
 
B. Regular elections 
 
C. Free market 
 
D. Universal adult suffrage 
 
 
7. China's government today is regarded as a form of government in which one person or political 
party exercises control in ___________ form. 
 
A. Communist 
 
B. theocratic 
 
C. tribal 
 
D. right-wing 
 
 
8. A notable development over the past 20 years has been the __________ of totalitarianism. 
 
A. fanaticism 
 
B. softening 
 
C. decline 
 
D. growth 
 
 
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9. The rise of Islamic fundamentalism is portrayed as a response to the alienation produced by: 
 
A. totalitarianism. 
 
B. Orthodox Christianity. 
 
C. ethnic strife. 
 
D. modernisation. 
 
 
10. An expression of liberalism that supports private ownership and individual enterprise and 
advocates the free flow of foreign capital in order to maximise national and global economic 
wellbeing is an example of which type of attitude towards FDI? 
 
A. Radical view 
 
B. Free market view 
 
C. Pragmatic nationalism 
 
D. Capitalist-imperialist 
 
 
11. The three types of political risk are: 
 
A. legal, governance and trade. 
 
B. operational, micro and global. 
 
C. ownership-control, operational and transfer. 
 
D. free market, macro and international. 
 
 
12. When considering the benefits of FDI, the restrictions on access and the concessions the firm 
must make, the bargaining power of the firm and of the host government depends on all of the 
following factors except: 
 
A. the value each side places on what the other has to offer. 
 
B. political risk on behalf of the government and economic risk on behalf of the firm. 
 
C. the number of comparable alternatives available to each side. 
 
D. each party's time horizon. 
 
 
13. Which of the following is not part of Western ideological traditions that guide political systems? 
 
A. Socialism 
 
B. Liberalism 
 
C. Mercantilism 
 
D. Conservatism 
 
 
 
 
14. Which of the following statement is untrue? 
 
A. Risk forecasting allows businesses to plan for unexpected events 
 
B. Risk forecasting helps firms to always avoid political risks 
 
C. Risk forecasting is like an ‘art form’ 
 
D. Risk forecasting may not always be accurate 
 
 
 
 
 
 
 
 
 
 
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Answers 
 
1. In the text, the term 'political economy' is used to stress that the political, economic and technical 
systems of a country are interdependent; that is, they interact and influence each other. 
 
 False 
 
2. Intellectual property rights, patent rights, copyright and trademarks are all part of the legal system. 
 
True 
 
3. The free market view argues that international production should be distributed among countries 
according to the theory of comparative advantage. 
 
True 
 
4. Democracies are not all the same. 
 
 True 
 
5. Totalitarianism is a _________________ system in which one person or political party exercise 
absolute control over all aspects of life. 
 
A. capitalist 
 
B. political 
 
C. democratic 
 
D. voting 
 
 
6. A representative democracy features a number of safeguards that are typically enshrined in 
constitutional law. Which of the following is not one of those safeguards? 
 
A. Free media 
 
B. Regular elections 
 
C. Free market 
 
D. Universal adult suffrage 
 
 
7. China's government today is regarded as a form of government in which one person or political 
party exercises control in ___________ form. 
 
A. Communist 
 
B. theocratic 
 
C. tribal 
 
D. right-wing 
 
 
8. A notable development over the past 20 years has been the __________ of totalitarianism. 
 
A. fanaticism 
 
B. softening 
 
C. decline 
 
D. growth 
 
 
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9. The rise of Islamic fundamentalism is portrayed as a response to the alienation produced by: 
 
A. totalitarianism. 
 
B. Orthodox Christianity. 
 
C. ethnic strife. 
 
D. modernisation. 
 
 
10. An expression of liberalism that supports private ownership and individual enterprise and 
advocates the free flow of foreign capital in order to maximise national and global economic 
wellbeing is an example of which type of attitude towards FDI? 
 
A. Radical view 
 
B. Free market view 
 
C. Pragmatic nationalism 
 
D. Capitalist-imperialist 
 
 
11. The three types of political risk are: 
 
A. legal, governance and trade. 
 
B. operational, micro and global. 
 
C. ownership-control, operational and transfer. 
 
D. free market, macro and international. 
 
 
12. When considering the benefits of FDI, the restrictions on access and the concessions the firm 
must make, the bargaining power of the firm and of the host government depends on all of the 
following factors except: 
 
A. the value each side places on what the other has to offer. 
 
B. political risk on behalf of the government and economic risk on behalf of the firm. 
 
C. the number of comparable alternatives available to each side. 
 
D. each party's time horizon. 
 
 
13. Which of the following is not part of Western ideological traditions that guide political systems? 
 
A. Socialism 
 
B. Liberalism 
 
C. Mercantilism 
 
D. Conservatism 
 
 
14. Which of the following statement is untrue? 
 
A. Risk forecasting allows businesses to plan for unexpected events 
 
B. Risk forecasting helps firms to always avoid political risks 
 
C. Risk forecasting is like an ‘art form’ 
 
D. Risk forecasting may not always be accurate 
 
 
 
 
 
 
 
 
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