IB_Session 3

GDP allows a more direct comparison of living standards in different countries than other measures.

• True
• False

GDP is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.

• True
• False

In a totalitarian country, there are safeguards to protect an individual's right to freedom of expression, opinion, and organization.

• True
• False

If a country's economy is to sustain long-term economic growth, the business environment must be conducive to innovations and entrepreneurial activity.

• True
• False

Product liability sets certain safety standards to which a product must adhere.

• True
• False

In mixed economies, governments tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests

• True
• False

A theocratic law system is one in which the law is based on religious teachings.

• True
• False

To facilitate international business, property rights are defined in a consistent way across countries.

• True
• False

New information and communication technologies have enabled the spread of democratic ideals.

• True
• False

In mixed economies, in certain sectors the state sets prices, owns businesses, limits private enterprise, restricts investment by foreigners, and restricts international trade.

• True
• False