Final answer:
Expropriation refers to the seizure of private assets by a government, which does not necessarily indicate the absence of compensation; hence, the statement is false. The term nationalization is more encompassing and includes scenarios both with and without compensation.
Step-by-step explanation:
The statement "Expropriation occurs when a local government seizes and does not provide any compensation for the foreign-owned assets of an MNC" is false. Expropriation does indeed involve a government seizing control of private assets, but this term does not specify whether compensation is provided. The process in which the government seizes economic assets, such as land or an industry, without necessarily providing compensation, is referred to as nationalization. In some cases, nationalization can take place with adequate compensation for the original owners, whereas in other cases it may not.