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Test Bank for Global Business 4th Edition by Mike Peng.
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Test Bank for Global Business 4th Edition by Mike Peng.
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Test Bank for Global Business 4th Edition by Mike Peng.
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Test Bank for Global Business 4th Edition by MikeTest Bank for Global Business 4th Edition by Mike
Peng
,Chapter 2 Understanding Formal Institutions Politics Laws and Economics
TRUEFALSE
1. Institutional framework pertains only to a firm's behavior.
(A) True
(B) False
Answer : (B)
2. An institutional framework is made up of formal and informal institutions governing individual and firm
behavior.
(A) True
(B) False
Answer : (A)
3. The laws of a country are part of the formal institution.
(A) True
(B) False
Answer : (A)
4. The regulatory pillar supports both informal and formal institutions.
(A) True
(B) False
Answer : (B)
5. The normative pillar supports informal institutions.
(A) True
(B) False
Answer : (A)
, 6. The values and beliefs of a culture are examples of a formal institution.
Full all chapters instant download please go to Solutions Manual, Test Bank site: downloadlink.org
(A) True
(B) False
Answer : (B)
7. Cognitive pillar is the coercive power of governments.
(A) True
(B) False
Answer : (B)
8. Force majeure is a method of interpreting a statute by understanding the legislative history leading up to the
adoption of that statute.
(A) True
(B) False
Answer : (B)
9. Disabling formal institutes does not affect transaction costs.
(A) True
(B) False
Answer : (B)
10. Opportunism is a source of transaction costs.
(A) True
(B) False
Answer : (A)
11. Transition economies have static institutions.
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