U.S. businesspeople complain that the quality of manufactured goods in the Mexican
maguiladoras plants are below industry standards.
a. True
b. False
The Free Trade Area of the Americas (FTAA) was successfully passed by the United
States, Canada, Mexico and all the southern neighbors.
a. True
b. False
Venue describes the appropriate geographical location of a court with jurisdiction.
a. True
b. False
For most products undergoing a transformation in North America, the rule of origin will
be based on:
a. Its tariff classification.
b. The source of the raw material used in the production of the product.
c. Its point of origin.
d. The product’s label.
The European Union uses an exemption system in its competition law. This means that:
a. Certain industries are exempted from antitrust law because of their technology.
b. An agreement can be entered into if the prospective parties can obtain a “negative
clearance” from the European Commission.
c. Certain countries are exempt from the competition law until they reach further
economic development.
d. None of the above.
In the Hartford Fire Insurance Co. case, the U.S. Supreme Court determined that it
could not assert jurisdiction over European companies in competition matters unless the
companies had a direct physical presence in a U.S. state.
a. True
b. False
American exports returned to the U.S. are dutiable except when:
a.American-made goods are returned to the U.S. not substantially transformed.
b.Component parts that were made in the U.S. and assembled in a foreign country.
c.Articles exported for repair or alteration but not substantial transformation.
d.All of the conditions above exempt the goods from duties.
Goods moving under a straight bill of lading may be delivered either to the consignee or
to the notify party.
a. True
b. False
Which of the following institutions does not provide credit guarantees to back trade
finance lending by commercial institutions?
a. The Federal Reserve Bank.
b. The Eximbank.
c. The Commodity Credit Corporation.
d. The Agency for International Development.
All of the following are remedies available under CISG except:
a. Money Damages.
b. Reformation.
c. Avoidance of the Contract.
d. Specific Performance.
The WTO General Agreement on Trade in Services applies basic GATT Principles to
service industries.
a. True
b. False
The main objective of U.S. trade law has been solely to discourage trade with non-free
market nations.
a. True
b. False
The United Nations has done very little to address the issues of environmental matters
due to the individual member nations’ desire to advance their economic growth at the
expense of pollution.
a. True
b. False
Nepotism can be a violation of the Foreign Corrupt Practices Act.
a. True
b. False
The Kyoto Protocol has been a resounding success for member nations that are
signatories in reaching the quantitative goals.
a. True
b. False