Question 1

Why do governments impose tariffs?

Accepted Answer

A) To protect domestic industries from foreign competition. 
B) To raise revenues. 
C) To attempt to improve their balance of trade. 
D) Governments impose tariffs for all of the above reasons. 
A) To protect domestic industries from foreign competition. 
B) To raise revenues. 
C) To attempt to improve their balance of trade. 
D) Governments impose tariffs for all of the above reasons.

Question 2

The various forms of MNE include:

Accepted Answer

A) NASDAZ. 
B) NFTRA. 
C) EU. 
D) Wholly owned subsidiaries. 
A) NASDAZ. 
B) NFTRA. 
C) EU. 
D) Wholly owned subsidiaries.

Question 3

An expropriation, or nationalization, occurs when a government seizes foreign-owned property or assets for a public purpose and pays the owner just compensation for what is taken.

Accepted Answer

A) True 
 B)False

Question 4

The judicial branch of the United Nations is called the World Court.

Accepted Answer

A) True 
 B)False

Question 5

The international organization which seeks to stabilize currency exchange is the:

Accepted Answer

A) United Nations Exchange Branch. 
B) International Court of Justice. 
C) United States Treasury. 
D) International Monetary Fund. 
A) United Nations Exchange Branch. 
B) International Court of Justice. 
C) United States Treasury. 
D) International Monetary Fund.

Question 6

The United Nations Commission on International Trade Law:

Accepted Answer

A) was established by the World Trade Organization in 1956. 
B) is made up of 70 member states. 
C) develops model laws, such as the CISG and the Model Law on Electronic Commerce. 
D) All of the above. 
A) was established by the World Trade Organization in 1956. 
B) is made up of 70 member states. 
C) develops model laws, such as the CISG and the Model Law on Electronic Commerce. 
D) All of the above.

Question 7

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-expropriation

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 8

Lawsuits based on the commercial activities of a foreign state conducted in the U.S.are subject to the jurisdiction of state or federal courts in the U.S.

Accepted Answer

A) True 
 B)False

Question 9

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-sovereign immunity

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 10

The __________ established the MIGA to encourage increased investment in developing nations.

Accepted Answer

A) World Bank. 
B) Regional Trade Communities. 
C) United Nations. 
D) NAFTA. 
A) World Bank. 
B) Regional Trade Communities. 
C) United Nations. 
D) NAFTA.

Question 11

Which of the following is true regarding the Foreign Corrupt Practices Act of 1977?

Accepted Answer

A) It applies only to corporations whose securities are registered under the Securities Act of 1934. 
B) It applies only to corporations engaged in foreign commerce. 
C) The Act makes it illegal to bribe foreign officials to obtain business. 
D) All of these are correct. 
A) It applies only to corporations whose securities are registered under the Securities Act of 1934. 
B) It applies only to corporations engaged in foreign commerce. 
C) The Act makes it illegal to bribe foreign officials to obtain business. 
D) All of these are correct.

Question 12

A goal of the EU is to promote progress by establishing an economic and monetary union.

Accepted Answer

A) True 
 B)False

Question 13

Assume the U.S.and Holland are GATT signatories.Under the "most-favored nation" provision, the U.S.tariff on Dutch imported tobacco must be at least as low as that charged on tobacco from any other nation.

Accepted Answer

A) True 
 B)False

Question 14

Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and the Age Discrimination in Employment Act apply to U.S.citizens employed abroad by U.S.employers or by foreign companies controlled by U.S.employers.

Accepted Answer

A) True 
 B)False

Question 15

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-sexual harassment

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 16

Under a distributorship:

Accepted Answer

A) the distributor, like an agent, does not take title to the merchandise it receives. 
B) the producer bears many of the risks connected with commercial sales. 
C) both the producer and the distributor must take special care to ensure that the arrangement does not violate the antitrust laws of their respective governments. 
D) multinational enterprises wishing to exploit an intellectual property right sell to a foreign company the right to use such property. 
A) the distributor, like an agent, does not take title to the merchandise it receives. 
B) the producer bears many of the risks connected with commercial sales. 
C) both the producer and the distributor must take special care to ensure that the arrangement does not violate the antitrust laws of their respective governments. 
D) multinational enterprises wishing to exploit an intellectual property right sell to a foreign company the right to use such property.

Question 17

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-trade secret

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 18

MATCHING
Part IX Matching
Match each statement with the correct term below.a.Conclusively presumed unreasonable and therefore illegal.b.Acquisition by one company of a competing company.c.Commercially valuable information that is guarded from disclosure.d.Deduction from wages to repay a debt.e.An illegal form of differential treatment that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.f.Governmental taking of foreign-owned property for a public purpose with just payment.g.Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).h.A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.i.A general invitation to all shareholders to purchase their shares at a specified price for a specified time.j.Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.k.Exclusive right to an invention for a statutory period of 14 or 20 years.l.Borrowing to acquire goods, services, or land for personal, household, or family purposes.m.Substantial and unreasonable interference with the use and enjoyment of a person's land.n.Defense to liability for false securities registration statements.o.Rule that a court should not question the validity of actions taken by a foreign government in its own country.p.Foreign country's freedom from a host country's laws.q.Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.r.EPA's treatment of an entire plant as one pollution source for obtaining permits.s.Similar patterns of conduct among competitors.t.Exclusive right, usually for the author's life plus 70 years, to original works of authorship.u.The judiciary branch of the United Nations; has voluntary jurisdiction over nations.
-private nuisance

Accepted Answer

The answer of MATCHING
Part IX Matching
Match each statement with the...

Question 19

Fines imposed on individuals for violating the Foreign Corrupt Practices Act may be paid, either directly or indirectly, by the domestic concern on whose behalf they acted.

Accepted Answer

A) True 
 B)False

Question 20

The U.N.Convention on Contracts for the International Sales of Goods (CISG) includes provisions relating to which of the following?

Accepted Answer

A) Interpretation and trade usage. 
B) Intellectual property rights. 
C) Obligations and remedies of sellers, but not buyers. 
D) Sharing of profits. 
A) Interpretation and trade usage. 
B) Intellectual property rights. 
C) Obligations and remedies of sellers, but not buyers. 
D) Sharing of profits.

Exam 47: International Business Law

Why do governments impose tariffs?

The various forms of MNE include:

An expropriation, or nationalization, occurs when a government seizes foreign-owned property or assets for a public purpose and pays the owner just compensation for what is taken.

The judicial branch of the United Nations is called the World Court.

The international organization which seeks to stabilize currency exchange is the:

The United Nations Commission on International Trade Law:

Lawsuits based on the commercial activities of a foreign state conducted in the U.S.are subject to the jurisdiction of state or federal courts in the U.S.

The __________ established the MIGA to encourage increased investment in developing nations.

Which of the following is true regarding the Foreign Corrupt Practices Act of 1977?

A goal of the EU is to promote progress by establishing an economic and monetary union.

Assume the U.S.and Holland are GATT signatories.Under the "most-favored nation" provision, the U.S.tariff on Dutch imported tobacco must be at least as low as that charged on tobacco from any other nation.

Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and the Age Discrimination in Employment Act apply to U.S.citizens employed abroad by U.S.employers or by foreign companies controlled by U.S.employers.

Under a distributorship:

Fines imposed on individuals for violating the Foreign Corrupt Practices Act may be paid, either directly or indirectly, by the domestic concern on whose behalf they acted.

The U.N.Convention on Contracts for the International Sales of Goods (CISG) includes provisions relating to which of the following?

Introduction to Law

Business Ethics

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Contracts in Writing

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer

Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

Environmental Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

Filters