Exam 41: International and World Trade Law

The federal government of the United States can enter into a treaty with the country of China whereby the two countries agree to reduce trade barriers between the two countries; however,the state of California cannot enter into a treaty with the country of China that reduces trade barriers between the state of California and China.

All EU countries have voted to use the euro.

Article II,Section 2,Clause 2 of the United States Constitution is also known as the Supremacy Clause.

The body of the United Nations that includes only fifteen (15)nations is the:

The president is the agent of the United States in dealing with foreign countries.

The United Nations is headquartered in Geneva,Switzerland.

The UN Security Council is primarily responsible for maintaining international peace and security; the Security Council does not,however,have authority to use armed forces.

The North American Free Trade Agreement established a minimum wage standard for the three signatory countries in order to protect jobs.

The countries that have voted to use the euro comprise the eurozone.

The Koran is one source from which Islamic law was developed.

The United Nations was created by multilateral:

The Organization of the Petroleum Exporting Countries consists exclusively of countries from the Middle East.

Jewish law is decided by rabbis,who are scholars of the Torah and other Jewish scriptures.

Under the Treaty Clause,only the federal government can enter into treaties with foreign nations.

Which of the following is false regarding the International Monetary Fund?

The EU treaty creates open borders for trade by providing for the free flow of capital,labor,goods,and services among member nations.

Islamic law is called Halakhah.

A WTO member nation that believes that another member nation has breached one of the trade agreements can initiate a proceeding to have the WTO hear and decide the dispute.

The International Court of Justice is composed of fifteen (15)judges who serve 9-year terms.

The North American Free Trade Agreement has some special protection for some industries.