Question 1

Different customs tariffs are established by different EU countries for trade with the rest of the world.

Accepted Answer

A) True 
 B)False  False

Question 2

The ________ is a trilateral treaty that has removed or reduced tariffs,duties,quotas,and other trade barriers between the United States,Canada,and Mexico.

Accepted Answer

A)  Free Trade Area of the Americas Treaty 
B)  North American Free Trade Agreement 
C)  Central America Free Trade Agreement 
D)  General Agreement on Tariffs and Trade 
A)  Free Trade Area of the Americas Treaty 
B)  North American Free Trade Agreement 
C)  Central America Free Trade Agreement 
D)  General Agreement on Tariffs and Trade B

Question 3

There is no world executive branch that can enforce international law.

Accepted Answer

A) True 
 B)False  True

Question 4

What is the role of the WTO dispute settlement body?

Accepted Answer

A)  to hear appeals on decisions made on a dispute 
B)  to create panel reports on the findings of the dispute 
C)  to hear the dispute settlement from the plaintiff 
D)  to review panel reports and decide whether to adopt them 
A)  to hear appeals on decisions made on a dispute 
B)  to create panel reports on the findings of the dispute 
C)  to hear the dispute settlement from the plaintiff 
D)  to review panel reports and decide whether to adopt them

Question 5

The United Nations is headquartered in ________.

Accepted Answer

A)  Washington, DC 
B)  Paris 
C)  New York City 
D)  The Hague 
A)  Washington, DC 
B)  Paris 
C)  New York City 
D)  The Hague

Question 6

In the United States,commercial disputes between U.S.companies and foreign governments or parties can be brought only in the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 7

What are some of the criticisms about the the North American Free Trade Agreement?

Accepted Answer

The NAFTA contains a safety valve within

Question 8

A treaty,if signed between India,Pakistan,Bangladesh,and China,would be an example of a ________.

Accepted Answer

A)  multilateral treaty 
B)  bilateral treaty 
C)  statute 
D)  charter 
A)  multilateral treaty 
B)  bilateral treaty 
C)  statute 
D)  charter

Question 9

What are the strengths of forming regional organizations among countries? Explain using the example of any international regional organization.

Accepted Answer

There are several significant regional o

Question 10

An EU central bank,equivalent to the U.S.Federal Reserve Board,has been established to set common monetary policy within the EU.

Accepted Answer

A) True 
 B)False

Question 11

Under the Treaty Clause,the ________ is seen as the agent of the United States in dealing with foreign countries.

Accepted Answer

A)  Secretariat 
B)  president 
C)  U.S. Supreme Court 
D)  U.S. Senate 
A)  Secretariat 
B)  president 
C)  U.S. Supreme Court 
D)  U.S. Senate

Question 12

Under the ________ of the Constitution,treaties become part of the "law of the land," and conflicting state or local law is void.

Accepted Answer

A)  Establishment Clause 
B)  Treaty Clause 
C)  Supremacy Clause 
D)  Due Process Clause 
A)  Establishment Clause 
B)  Treaty Clause 
C)  Supremacy Clause 
D)  Due Process Clause

Question 13

Slovakia and Slovenia are members of the European Union.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

The federal government of the United States can enter into a treaty with the country of Uganda that agrees to reduce trade barriers between them.However,the state of Arizona cannot enter into a treaty with the country of Uganda that reduces trade barriers between Arizona and Uganda.Give reasons to explain the scenario.

Accepted Answer

Article II,Section 2,Clause 2 of the U.S

Question 16

If a state enacts a law that increases its tax on imported automobiles but not on American-made automobiles,it violates the ________ of the U.S.Constitution.

Accepted Answer

A)  Equal Protection Clause 
B)  Foreign Commerce Clause 
C)  Supremacy Clause 
D)  Due Process Clause 
A)  Equal Protection Clause 
B)  Foreign Commerce Clause 
C)  Supremacy Clause 
D)  Due Process Clause

Question 17

Which of the following represents the largest free trade area in the world in terms of population?

Accepted Answer

A)  NAFTA 
B)  ACFTA 
C)  ASEAN 
D)  AKFTA 
A)  NAFTA 
B)  ACFTA 
C)  ASEAN 
D)  AKFTA

Question 18

The EU's Council of Ministers is composed of representatives from each member country.

Accepted Answer

A) True 
 B)False

Question 19

According to the Treaty Clause of the U.S.Constitution,the president can make treaties,provided that ________ of the senators present concur.

Accepted Answer

A)  all 
B)  two-thirds 
C)  half 
D)  one-third 
A)  all 
B)  two-thirds 
C)  half 
D)  one-third

Question 20

The ________ is a body that prosecutes cases that nations refer to it as well as cases involving treaties and the UN Charter.

Accepted Answer

A)  Security Council 
B)  General Assembly 
C)  International Court of Justice 
D)  International Monetary Fund 
A)  Security Council 
B)  General Assembly 
C)  International Court of Justice 
D)  International Monetary Fund

Exam 41: International and World Trade Law

Different customs tariffs are established by different EU countries for trade with the rest of the world.

The ________ is a trilateral treaty that has removed or reduced tariffs,duties,quotas,and other trade barriers between the United States,Canada,and Mexico.

There is no world executive branch that can enforce international law.

What is the role of the WTO dispute settlement body?

The United Nations is headquartered in ________.

In the United States,commercial disputes between U.S.companies and foreign governments or parties can be brought only in the U.S.Supreme Court.

What are some of the criticisms about the the North American Free Trade Agreement?

A treaty,if signed between India,Pakistan,Bangladesh,and China,would be an example of a ________.

What are the strengths of forming regional organizations among countries? Explain using the example of any international regional organization.

An EU central bank,equivalent to the U.S.Federal Reserve Board,has been established to set common monetary policy within the EU.

Under the Treaty Clause,the ________ is seen as the agent of the United States in dealing with foreign countries.

Under the ________ of the Constitution,treaties become part of the "law of the land," and conflicting state or local law is void.

Slovakia and Slovenia are members of the European Union.

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

If a state enacts a law that increases its tax on imported automobiles but not on American-made automobiles,it violates the ________ of the U.S.Constitution.

Which of the following represents the largest free trade area in the world in terms of population?

The EU's Council of Ministers is composed of representatives from each member country.

According to the Treaty Clause of the U.S.Constitution,the president can make treaties,provided that ________ of the senators present concur.

The ________ is a body that prosecutes cases that nations refer to it as well as cases involving treaties and the UN Charter.

Legal Heritage and the Digital Age

Constitutional Law for Business and E-commerce

Courts and Jurisdiction

Judicial Alternative Administrative and E-Dispute Resolution

Intentional Torts and Negligence

Criminal Law and Cyber Crimes

Intellectual Property and Cyber Piracy

Ethics and Social Responsibility of Business

Nature of Traditional and E-Contracts

Agreement and Consideration

Capacity and Legality

Genuineness of Assent and Statute of Frauds

Third-Party Rights and Discharge

Breach of Contract and Remedies

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties and Product Liability

Creation and Transfer of Negotiable Instruments

Holder in Due Course and Liability of Parties

Banking System and Electronic Financial Transactions

Credit, Real Property Financing, and Secured Transactions

Bankruptcy and Reorganization

Agency law

Small Business, Entrepreneurship, and Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchise and Special Forms of Business

Investor Protection, E-Securities, and Wall Street Reform

Antitrust Law and Unfair Trade Practices

Consumer Safety and Environmental Protection

Labor, Worker Protection, and Immigration Laws

Equal Opportunity in Employment

Personal Property, Bailment, and Insurance

Real Property, Landlord-Tenant Law, and Land Use Regulation

Family Law, Wills, and Trusts

Accountants' Duties and Liability

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