Exam 25: International Business

________ avoids renegotiation of treaties by allowing the president to negotiate trade agreements and then submit them for an up or down vote by Congress with no amendments permitted.

What is the principle of comity? When conditions must usually exist for the principle to be applied?

A product is ________ when it is sold abroad below the current selling price in the exporter's home market or below the exporter's cost of production.

The ________ is a program developed by the industrialized countries to assist developing nations by improving their ability to export

________ is a process used mainly in the area of public international law whereby a third party,often a disinterested government,brings the parties together by establishing communication and providing a site where the parties can meet,often in secret.

Courts on a national,as well as an international level,are sources of international law.

Through the process of ________ a nation that was not an original party to a treaty can elect to participate in a treaty at a later time.

A multinational company must obey only the business transaction laws of its home country.

The Council of Ministers is the legislative body of

One simple way of addressing foreign tax risks is a(n)________,whereby the local licensee is obligated to pay all taxes other than those specifically allocated to the foreign partner.

Codification is a process by which existing common law positions are restated and laid down in a statute.

Senator Smith is tired of all the imports of televisions coming into this country.He proposes a bill by which all foreign-made televisions will be taxed at additional $100 before being allowed into the country.He receives a great deal of support for his bill,but one senator questions whether such an arrangement is illegal since it will discriminate against imported goods.Which of the following is correct?

________ is the process by which a country asserts a right to regulate activities that occur beyond its borders.

The ________ is the sole basis for obtaining jurisdiction over a foreign government in U.S.courts.

There are no differences between the U.S.and English common law systems.

Exports are controlled by means of export

The transfer of technical data to a foreign citizen while present in the U.S.is generally not considered to be an export.

The process by which property ownership is transferred from a nation to a private entity is called ________.

Choice-of-law provisions in a contract seek to avoid later disputes over which law applies.

The members of the European Parliament are elected by the ________ of the member states.