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The Flammable Fabrics Act is an example of a technical regulation that is in violation
of the principles of GATT/WTO.
a. True
b. False
Under the Recognition of Licensing and Professional Qualifications, countries must
recognize professional licenses granted by foreign countries.
a. True
b. False
A treaty is an agreement or contract between two or more nations that is recognized and
given effect under international or domestic law.
a. True
b. False
Under the Constitution, a treaty is considered:
a. "Non-binding and discretionary."
b. "Unenforceable."
c. "Law of the Land."
d. None of the Above.
If an executive of a computer technology firm based in Silicon Valley hires the eldest
son of a Chinese Communist leader for an internship as a token of friendship to
facilitate the permit to establish a manufacturing facility in Shanghai. Later, the U.S.
Justice Department files a violation of the FCPA, is there a violation.
a. True
b. False
A principal who hires an independent agent within a host country is viewed as having
opened an office and is then subject to the host country's tax laws.
a. True
b. False
Because importers and exporters assume different risks, the most preferred way to
conduct business and minimize these risks is:
a. Cash in advance.
b. Open account.
c. Documentary sale.
d. All of the above.
Specific performance is an equitable remedy requiring a party to pay the non-breaching
party a specified sum of money for breach of contract.
a. True
b. False
In Reyes-Gaona v. North Carolina Growers, the court grappled with the issue of:
a. Whether U.S. antitrust law applied to a U.S. company in Mexico.
b. Whether Mexican antitrust law applied to Mexican work in North Carolina.
c. Whether the U.S. ADA law applied in Mexico.
d. None of the above.
Antitrust laws have been enacted in all of the WTO members after World War II.
a. True
b. False
The Organization for Economic Cooperation and Development (OECD) has developed:
a. Codes of conduct for companies and host countries in an attempt to set ethical
standards for both.
b. Guidelines for interest rates to be charged multinational enterprises.
c. Codes of conduct for employee practices for multinational corporations.
d. None of the above.
The CISG makes no provision for "trade usages" since everything is defined.
a. True
b. False
Once a foreign firm creates a subsidiary abroad under its control, it risks waiving its
protection under bilateral investment treaties.
a. True
b. False
Trademarks are not protected under NAFTA and the owner of the trademark must
register with the United States, Canada, and Mexico.
a. True
b. False
The act that made it easier for the Council to act by requiring only a qualified majority
for many types of directives was:
a. Autonomous Council Act.
b. Free Trade Act.
c. Binding Directives Act.
d. Single European Act.
State governments may restrict imports in order to deal with public health, safety
concerns and sanction for violation of international law.
a. True
b. False
A customs union is a free trade area with a common external tariff.
a. True
b. False
Under the MFN rates the United States can grant lower tariff rates to a less developed
country in order to stimulate economic growth?
a. True
b. False
Inherent powers are:
I. Powers that the president derives from the U.S. Constitution.
II. Used by the president to conduct foreign affairs.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
