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21) Laissez-faire capitalism

A) maximizes the role of the government in the economy.

B) was adopted by the Soviet Union during the height of the Cold War.

C) emphasized the importance of a minimum of restrictions on economic activity.

D) is also known as state-directed capitalism.

22) The system found in some Asian countries where the government does not own much outright, but it does plan and regulate the economy, is called

A) chaebol.

B) positive externalities.

C) negative externalities.

D) state-directed capitalism.

E) dictatorship.

23) Canada's vast northern regions are almost empty of population but are exploited for all of the following except

A) agriculture.

B) mineral resources.

C) timber resources.

D) hydroelectric power.

E) none of the above

24) In the United States and Canada, which general region has been losing population?

A) the East

B) the Pacific Coast

C) the central regions

D) the South

25) There has been a transportation revolution in the United States called just-in-time inventory, which saves

A) transport costs.

B) opportunity costs on inventory.

C) storage costs.

D) insurance costs.

E) all of the above

26) Import-substitution policies' purpose is to

A) expand exports.

B) protect domestic infant industries.

C) increase farm output.

D) build schools.

27) The result of China's policy of moving industry inland between 1949 and 1976 was

A) exports increased enormously.

B) exports plummeted.

C) the capital was moved inland.

D) inland areas became rich, while the coast stagnated.

28) The principal source of investment funds for China is

A) Taiwan.

B) the United States.

C) Japan.

D) Great Britain.

29) A corporation that has established production facilities in other countries primarily to meet the consumption needs of those countries is in this stage of the evolution of a multinationalA) first.

B) second.

C) third.

D) fourth.

30) The portion of world trade that is between divisions of the same corporation is

A) one half.

B) one third.

C) one quarter.

D) unknown.

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