Question 1

Adam Smith supported international trade because:

Accepted Answer

A) countries could focus on what they did well and then trade with other countries for goods and services they did not do so well. 
B) he felt tariffs were the best way to raise money for government purposes. 
C) companies could operate without regulation. 
D) none of the above 
A) countries could focus on what they did well and then trade with other countries for goods and services they did not do so well. 
B) he felt tariffs were the best way to raise money for government purposes. 
C) companies could operate without regulation. 
D) none of the above

Question 2

OECD has relationships with 70 countries and NGOs.

Accepted Answer

A) True 
 B)False

Question 3

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Accepted Answer

A) True 
 B)False

Question 4

Actor Gerard Depardieu moved to Belgium in order to avoid having to pay French taxes of nearly 75% on his income,thereby denouncing his French citizenship.Mr.Depardieu wishes to avoid which of the following by denouncing his citizenship and living in Belgium?

Accepted Answer

A) Repatriation 
B) Extradition 
C) Expropriation 
D) Sovereign immunity 
A) Repatriation 
B) Extradition 
C) Expropriation 
D) Sovereign immunity

Question 5

Expropriation is the:

Accepted Answer

A) taking of private property by a country. 
B) development of tariffs for goods leaving the country. 
C) collection of a line of credit by property repossession. 
D) none of the above 
A) taking of private property by a country. 
B) development of tariffs for goods leaving the country. 
C) collection of a line of credit by property repossession. 
D) none of the above

Question 6

Jake's Bikes and Boards has its main business in the United States,but is opening stores in Turkey and India.Jake's CEO has emphasized to the employees sent to these countries that Jake's will not pay bribes or facilitation payments.Upon arrival in Turkey,the employees discover that they cannot even lease facilities unless they pay a fee to the government agent who approves and records the leases.The employees hire Fred Belushi,who is a dual citizen of the United States and Turkey,to help them get the lease.Fred arranges for the recorder of leases to take a trip with his family to Switzerland.Fred bills Jake's for his work and lists the trip as "travel expenses".​

Accepted Answer

A) ​The employees have not violated the FCPA. 
B) ​The employees have violated the FCPA because using an agent does not immunize them. 
C) The FCPA does not prohibit "travel expenses". 
D) none of the above 
A) ​The employees have not violated the FCPA. 
B) ​The employees have violated the FCPA because using an agent does not immunize them. 
C) The FCPA does not prohibit "travel expenses". 
D) none of the above

Question 7

U.S.antitrust laws:

Accepted Answer

A) do not apply to companies based in other countries that are doing business in the United States. 
B) do not apply to U.S.companies doing business in other countries. 
C) apply to companies based in other countries that do business in the U.S. 
D) none of the above 
A) do not apply to companies based in other countries that are doing business in the United States. 
B) do not apply to U.S.companies doing business in other countries. 
C) apply to companies based in other countries that do business in the U.S. 
D) none of the above

Question 8

NAFTA applies only to goods that originate in the U.S.,Mexico,and Canada.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following $\underline{\text{not}}$ a system of law?

Accepted Answer

A) common law 
B) Islamic law 
C) Communism 
D) All of the above are systems of law. 
A) common law 
B) Islamic law 
C) Communism 
D) All of the above are systems of law.

Question 10

The U.S.sanctions against trade withNorth Koreaare an example of a unilateral trade sanction.

Accepted Answer

A) True 
 B)False

Question 11

The Act of State Doctrine applies to antitrust issues for member countries of the United Nations.

Accepted Answer

A) True 
 B)False

Question 12

The Foreign Corrupt Practices Act applies to all companies doing business abroad.

Accepted Answer

A) True 
 B)False

Question 13

Go-Video has developed a DVD recorder that is dual deck and is capable of playing one DVD while recording on the other DVD.Several Japanese manufacturers have taken action to block the entry of the machine onto the market by prohibiting dealers from handling the product (if they do,their dealership for the Japanese DVD recorders and TVs is terminated).Go-Video has brought suit against the Japanese manufacturers for violation of the antitrust laws.Are the Japanese manufacturers subject to U.S.antitrust laws?

Accepted Answer

The companies are subject to U

Question 14

MFN stands for most favored nation status under GATT.

Accepted Answer

A) True 
 B)False

Question 15

The Export Trading Company Act provides antitrust exemptions for international joint ventures.

Accepted Answer

A) True 
 B)False

Question 16

The U.S.antitrust laws apply only to U.S.firms.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following sets limits on removal of profits from a country?

Accepted Answer

A) expropriation 
B) forum non conveniens 
C) repatriation 
D) sovereign immunity 
A) expropriation 
B) forum non conveniens 
C) repatriation 
D) sovereign immunity

Question 18

U.S.courts have no jurisdiction over foreign businesses with operations in the United States.

Accepted Answer

A) True 
 B)False

Question 19

NAFTA is an example of a bilateral trade agreement.

Accepted Answer

A) True 
 B)False

Question 20

The Alternative Fines Act:

Accepted Answer

A) is an act used by U.S.Customs to increase the penalties for those who try to circumvent tariffs. 
B) was declared unconstitutional. 
C) is a form of expatriation. 
D) is used by the Justice Department in FCPA violations. 
A) is an act used by U.S.Customs to increase the penalties for those who try to circumvent tariffs. 
B) was declared unconstitutional. 
C) is a form of expatriation. 
D) is used by the Justice Department in FCPA violations.

Adam Smith supported international trade because:

OECD has relationships with 70 countries and NGOs.

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Actor Gerard Depardieu moved to Belgium in order to avoid having to pay French taxes of nearly 75% on his income,thereby denouncing his French citizenship.Mr.Depardieu wishes to avoid which of the following by denouncing his citizenship and living in Belgium?

Expropriation is the:

U.S.antitrust laws:

NAFTA applies only to goods that originate in the U.S.,Mexico,and Canada.

Which of the following $\underline{\text{not}}$ a system of law?

The U.S.sanctions against trade withNorth Koreaare an example of a unilateral trade sanction.

The Act of State Doctrine applies to antitrust issues for member countries of the United Nations.

The Foreign Corrupt Practices Act applies to all companies doing business abroad.

MFN stands for most favored nation status under GATT.

The Export Trading Company Act provides antitrust exemptions for international joint ventures.

The U.S.antitrust laws apply only to U.S.firms.

Which of the following sets limits on removal of profits from a country?

U.S.courts have no jurisdiction over foreign businesses with operations in the United States.

NAFTA is an example of a bilateral trade agreement.

The Alternative Fines Act:

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Contracts and Sales: Performance,Remedies,and Collection

Product Advertising and Liability

Business Competition: Antitrust

Business and Intellectual Property Law

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management of Employee Welfare

Management: Employment Discrimination

Filters

Exam 7: International Law

Adam Smith supported international trade because:

OECD has relationships with 70 countries and NGOs.

A foreign country engaging in commercial transactions in the United States is not protected by the doctrine of sovereign immunity for those transactions.

Actor Gerard Depardieu moved to Belgium in order to avoid having to pay French taxes of nearly 75% on his income,thereby denouncing his French citizenship.Mr.Depardieu wishes to avoid which of the following by denouncing his citizenship and living in Belgium?

Expropriation is the:

U.S.antitrust laws:

NAFTA applies only to goods that originate in the U.S.,Mexico,and Canada.

Which of the following not‾\underline{\text{not}}not​ a system of law?

The U.S.sanctions against trade withNorth Koreaare an example of a unilateral trade sanction.

The Act of State Doctrine applies to antitrust issues for member countries of the United Nations.

The Foreign Corrupt Practices Act applies to all companies doing business abroad.

MFN stands for most favored nation status under GATT.

The Export Trading Company Act provides antitrust exemptions for international joint ventures.

The U.S.antitrust laws apply only to U.S.firms.

Which of the following sets limits on removal of profits from a country?

U.S.courts have no jurisdiction over foreign businesses with operations in the United States.

NAFTA is an example of a bilateral trade agreement.

The Alternative Fines Act:

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

Business Crime

Business Torts

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Contracts and Sales: Performance,Remedies,and Collection

Product Advertising and Liability

Business Competition: Antitrust

Business and Intellectual Property Law

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management of Employee Welfare

Management: Employment Discrimination

Filters

Which of the following $\underline{\text{not}}$ a system of law?