3. A free enterprise system refers to:

Select one:

a. Economic assets that are privately owned and exchanged in an open market.

b. Property ownership by a centralized government.

c. A mix of privately owned and government controlled economic assets.

d. An index of economic freedom.

4. A society where economic power is concentrated in the hands of government officials and political authorities is called:

Select one:

a. A central state control system.

b. A social democracy.

c. A political control system.

d. A military dictatorship.

5. According to the United Nations, a feature of democracy is:

Select one:

a. Fair elections.

b. An independent media.

c. A government with power balanced among executive, legislative, and judicial branches.

d. All of these answers are correct.

7. An example of an international financial and trade institution is:

Select one:

a. World Bank.

b. International Monetary Fund.

c. World Trade Organization.

d. All of these answers are correct.

17. The primary purpose of the International Monetary Fund is to:

Select one:

a. Lend foreign currency to member countries.

b. Exchange one currency for another.

c. Consolidate the debt facing Third World nations.

d. Collect the interest on loans made by the World Bank to Third World nations.