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Questions
Q:
PeriodIncome/WeekPounds of ArtisanBread SoldJars ofJam Sold1$2502102$50058Use the above table. The income elasticity of artisan bread isA) 1.285. B) 0.780. C) 0.012. D) 8.330.
Q:
A nation can seek redress on behalf of an individual or a business that has a claim against another country in the International Court of Justice (ICJ).
Q:
The International Court of Justice (ICJ) is composed of 15 judges who serve nine-year terms.
Q:
The United Nations (UN) secretary-general may refer matters that threaten international peace and security to the Security Council and use his or her office to help solve international disputes.
Q:
If a one percent increase in the price of bananas leads to a one percent decrease in the quantity of bananas demanded, then the demand for bananas isA) elastic. B) inelastic.C) unit-elastic. D) perfectly inelastic.
Q:
The International Monetary Fund (IMF) is an example of an autonomous agency that is a part of the UN.
Q:
The secretary-general of the United Nations (UN) is elected by the Security Council.
Q:
The United Nations (UN) Secretariat is headed by the secretary-general of the UN.
Q:
The United Nations (UN) does not allow permanent membership of the Security Council to any member nation.
Q:
All of the costs associated with making and enforcing contracts are referred to asA) alternative costs. B) opportunity costs.C) marginal costs. D) transactions costs.
Q:
The United Nations (UN) Security Council is composed of all the UN member nations.
Q:
The World Bank ________.
A) is an autonomous agency under the organizational framework of the European Union
B) is an agency that monitors the financial partnerships taking place in the eurozone
C) is primarily responsible for promoting sound monetary, fiscal, and macroeconomic policies in developed countries
D) provides money to developing countries to fund projects for humanitarian purposes and to relieve poverty
Q:
Which of the following statements is true of the International Court of Justice (ICJ)?
A) It is the executive branch of the United Nations (UN) that helps interpret international law.
B) It only hears cases of nations, not of individuals or businesses.
C) It does not have the authority to hear cases involving treaties.
D) It is headed by the secretary-general of the United Nations (UN).
Q:
The ________ is a body that prosecutes cases that nations refer to it as well as cases involving treaties and the United Nations (UN) Charter.
A) Security Council
B) General Assembly
C) International Court of Justice (ICJ)
D) International Monetary Fund (IMF)
Q:
Once the national health care program goes into effect, we can expectA) total expenditures on health care will decrease.B) more individuals will have more incentives to make decisions that promote better health.C) total expenditures on health care will increase. D) moral hazard will decrease.
Q:
Which of the following is an example of an autonomous agency of the United Nations (UN)?
A) the North Atlantic Treaty Organization (NATO)
B) the Security Council
C) the World Trade Organization (WTO)
D) the International Monetary Fund (IMF)
Q:
The ________ is a staff of persons that administers the day-to-day operations of the United Nations (UN).
A) Council of Ministers
B) Security Council
C) General Assembly
D) Secretariat
Q:
Which of the following is headed by the secretary-general of the United Nations (UN)?
A) the International Court of Justice (ICJ)
B) the Secretariat
C) the Security Council
D) the General Assembly
Q:
Which of the following branches of the United Nations (UN) is primarily responsible for maintaining international peace and has authority to use armed force for this purpose?
A) the General Assembly
B) the Secretariat
C) the Security Council
D) the International Court of Justice (ICJ)
Q:
Refer to the above figure. Where are the poorest households represented on the graph?A) The poorest households are to the left along the horizontal axis.B) The poorest households are to the right along the horizontal axis. C) The poorest households are all along the horizontal axis.D) The poorest households are concentrated in the middle.
Q:
The General Assembly of the United Nations (UN) is ________.
A) a special task committee that addresses the socioeconomic problems of the United States
B) the legislative body of the UN that is composed of all UN member nations
C) a group of 15 member nations that is primarily responsible for maintaining international peace and security
D) an autonomous committee that administers the day-to-day operations of the UN
Q:
The ________ is an international organization created by a multilateral treaty in 1945 to promote social and economic cooperation among nations and to protect human rights.
A) United Nations (UN)
B) League of Nations
C) General Agreement on Tariffs and Trade (GATT)
D) World Trade Organization (WTO)
Q:
What does the act of state doctrine assert?
Q:
A union of all workers from a particular industry is a(n)A) craft union. B) conglomerate union. C) industrial union. D) expansive union.
Q:
Jewish jurisprudence is administered by the ________, which is a Jewish court consisting of rabbi-judges.
Q:
Laws and regulations that have been adopted by Catholic and other Christian ecclesiastical authorities that relate to internal laws that govern the church and its members are known as ________ law.
Q:
The ________ Act exclusively governs suits against foreign nations that are brought in federal or state courts in the United States.
Q:
Many international contracts contain a(n) ________ clause that designates which nation's court has jurisdiction to hear a case arising out of a dispute.
Q:
The labor supply curve faced by an individual firm in a perfectly competitive market isA) upward sloping. B) horizontal.C) vertical. D) downward sloping.
Q:
The ________ doctrine is based on the principle that a country has absolute authority over what transpires within its own territory. The doctrine states that judges of one country cannot question the validity of an act committed by another country within that other country's borders.
Q:
The Islamic law system is derived from the Qur'an, the ________ (decisions and sayings of the prophet Muhammad), and reasonings by Islamic scholars.
Q:
Classical Hindu law heavily rests on civil codes adopted during the reigns of different kings.
Q:
A retail store cuts the prices of the products it sells to force its competitor to leave the market. This is prohibited by theA) Sherman Act B) Robinson-Patman ActC) Aldrich Act. D) FTC Act
Q:
The Code of Canon Law of 1983 stipulates the code of conduct to be followed by all Christians around the world.
Q:
The canons of Christian faiths provide rules for believers to follow in living their lives and professing their faith.
Q:
The Islamic law of Shari'a encourages levying interest on loan payments.
Q:
The Beis Din is more a search for the truth than it is an adversarial process.
Q:
Cab drivers operating from JFK Airport to the City of New York legally must charge a specific fare. This is an example ofA) social regulation. B) economic regulation. C) the market share test. D) the rate of return test.
Q:
The FSIA strictly states that a foreign country is not immune to lawsuits in U.S. courts under any circumstance.
Q:
The United States follows the principle of restricted immunity for suits against foreign nations.
Q:
The act of state doctrine is based on the principle that a country has limited authority over what transpires within its own territory.
Q:
Which does NOT cause an industry that might otherwise be competitive to tend toward oligopoly?A) economies of scale B) barriers to entryC) mergers D) strategic independence
Q:
A choice of law clause is a clause in an international contract that designates which nation's equity principles will be applied in mediating a dispute arising out of a contract.
Q:
A forum-selection clause designates which nation's court has jurisdiction to hear a case arising out of a contract.
Q:
Classical Hindu law is based on ________.
A) civil codes
B) court decisions
C) the works of private scholars
D) canons collectively called riba
Q:
Refer to the above figure. Economic profits for this firm areA) negative and equal to P2bcP3. B) negative and equal to P1bcP2.C) positive and equal to P2bcP3. D) positive and equal to P1abP2.
Q:
Which of the following is true of the Islamic law of Shari'a?
A) The Shari'a disallows making a reasonable profit from the sale of goods and services.
B) All Islamic countries strictly follow the complete Shari'a to govern all aspects of life.
C) The Shari'a encourages riba through the strict payment and collection of interest on loans within stipulated periods of time.
D) The Shari'a is primarily used in the areas of marriage, divorce, and inheritance and, to a limited degree, criminal law.
Q:
Which of the following statements is true about the canons of Christian faith?
A) The Code of Canon Law produced in 1917 is followed by all sects of Christianity today.
B) The Code of Canon Law regulates the conduct of the Church but fails to govern the actions of individual Catholics.
C) The Orthodox churches treat their canons more as guidelines than as laws.
D) The canons remain silent on the legal measures guiding marriage or inheritance.
Q:
Throughout Christianity, divine and natural laws have been issued in the form of ________.
A) edicts
B) conventions
C) novations
D) canons
Q:
________ prescribes comprehensive and integrated rules of religious, political, and legal life that together form Jewish thought.
A) The Qur'an
B) The Torah
C) Dharmasastra
D) Riba
Q:
Which of the following is a recognized exception to immunity under the Foreign Sovereign Immunities Act (FSIA)?
A) the unfair and deceptive trade practice exception
B) the managed trade exception
C) the diversity of citizenship exception
D) the commercial activity exception
Q:
A profit-maximizing monopolist will receive zero profits whenA) the average total cost curve lies above the demand curve for all possible rates of output.B) the average total cost curve is tangent to the demand curve at the profit maximizing price. C) marginal revenue, marginal cost, and average total cost are all equal.D) a second firm enters the industry.
Q:
Which of the following is codified under the Foreign Sovereign Immunities Act (FSIA)?
A) the act of state doctrine
B) the principle of restricted immunity
C) the supremacy clause
D) the choice of forum clause
Q:
Give an account of zoning. What are nonconforming uses?
Q:
The ________ of the Fifth Amendment to the U.S. Constitution allows the government to take private property for publicuse.
Q:
The market structure where there is a single supplier of a good or service for which there is no close substitute isA) a price searcher. B) a monopoly.C) a tariff.D) the most economically efficient market structure.
Q:
Uses for real estate and buildings that already exist in a zoned area that are permitted to continue even though they do not fit within a new zoning use established for the area are known as ________.
Q:
A(n) ________ is an exception that permits a type of building or use in an area that would not otherwise be allowed by a zoning ordinance.
Q:
Local laws that are adopted by municipalities and local governments to regulate land use within their boundaries are known as ________ ordinances.
Q:
The ________ is a federal statute that makes it unlawful for a party to refuse to sell, rent, finance, or advertise housing to any person because of his or her race, color, national origin, sex, religion, disability, or family status, subject to several exceptions.
Q:
In the above figure, if d1 is the relevant demand curve for this firm, then which level of output will maximize this firmʹs profits or minimize its losses?A) A B) B C) C D) D
Q:
The power of eminent domain allows the government to take private property for public use after paying just compensation.
Q:
The compensation provided by the government for its exercise of the power of eminent domain is final and cannot be disputed further.
Q:
The Due Process Clause of the Fifth Amendment to the U.S. Constitution requires the government to compensate the property owner when it exercises the power of eminent domain.
Q:
What is the relationship between marginal cost and marginal physical product?
Q:
The Americans with Disabilities Act applies only to places of accommodation operated by public entities.
Q:
The Fair Housing Act specifically prohibits discrimination against disabled individuals in employment, public services, public accommodations, and services.
Q:
The Fair Housing Act of 1968 does not apply to a person who leases a single-family dwelling and does not own more than three single-family dwellings.
Q:
Which of the following is true of the government's exercise of eminent domain?
A) It does not allow the owner of the property to make a case for keeping the property.
B) It requires the government to compensate the property owner.
C) It does not apply to state and local governments.
D) It allows the government to set up zoning areas.
Q:
If in the short run total product is decreasing as more workers are hired, then the marginal physical product isA) increasing. B) zero. C) negative. D) positive.
Q:
The process by which the government can acquire private property for public use is known as ________.
A) a remainder
B) constructive eviction
C) adverse possession
D) eminent domain
Q:
The ________ Clause of the Fifth Amendment to the U.S. Constitution allows the government to take private property for public use.
A) Takings
B) Just Compensation
C) Double Jeopardy
D) Ratification
Q:
A ________ is an exception that permits a type of building or use in an area that would not otherwise be allowed by a zoning ordinance.
A) variance
B) fixture
C) dominant estate
D) servient estate
Q:
What is a lease?
Q:
An advantage of the proprietorship as a form of business organization is
A) its limited liability.
B) its limited access to capital, thus reducing the possible size of debt.
C) that it is easy to form.
D) that it can sell bonds to the public.
Q:
A(n) ________ is created when a landlord and a tenant agree on a specific duration for the lease.
Q:
A tenant at sufferance is liable for the payment of rent during the period of sufferance.
Q:
The death of one of the parties of a tenancy at will does not terminate the contract.
Q:
In a periodic tenancy, the notice period is usually the same as the length of the payment period.
Q:
If the price of a product increases, thenA) the budget line rotates and the optimal quantity demanded, which corresponds to the higher price, decreases.B) the budget line rotates and the optimal quantity demanded, which corresponds to the higher price, increases.C) the budget line shifts outward and the optimal quantity demanded, which corresponds to the higher price, decreases.D) the budget line shifts inward and the optimal quantity demanded, which corresponds to the higher price, increases.