Question 1

Discuss franchising.

Accepted Answer

A license from the owner of a trademark ...

Question 2

In the context of international business, GATT stands for:

Accepted Answer

A)   Geographical Agreement on Trade and Tariff.
B)   Global Agreement on Tariff and Trade.
C)   General Agreement on Tariff and Trade.
D)   Geographical Association for Transport and Trade.

Question 3

A treaty is simply a negotiated contract between parties who happen to be nations.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following types of legal systems exists in most of the Oceania?

Accepted Answer

A)   Customary law
B)   Common law
C)   Civil law
D)   Muslim law

Question 5

Which of the following organizations replaced GATT as an international organization?

Accepted Answer

A)   World Trade Organization
B)   United Nations
C)   International Monetary Fund
D)   Red Cross

Question 6

The most-favored-nation rule imposed a duty on member nations to:

Accepted Answer

A)   charge lower tariffs on agricultural products.
B)   charge higher tariffs on electronic equipments.
C)   charge lower tariffs to less developed countries.
D)   charge the same tariff to every country. D

Question 7

An export management company generally is smaller and usually handles only one product or type of product.

Accepted Answer

A) True 
 B)False

Question 8

Discuss the difference between an export trading company (ETC) and export management company (EMC).

Accepted Answer

A business may not have been contacted d...

Question 9

The Red Cross is an intergovernmental organization.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following terms best represents a negotiated contract between parties who happen to be nations?

Accepted Answer

A)   Convention
B)   Treaty
C)   Custom
D)   Protocol B

Question 11

Which of the following statements is true regarding the UN Convention on the International Sale of Goods (CISG)  treaty?

Accepted Answer

A)   It is also known as the Geneva Convention.
B)   It is applicable only between merchants doing business.
C)   It is not yet adopted by the United States.
D)   It applies to household goods purchased for personal use.

Question 12

What are the two types of international organizations?

Accepted Answer

International organizations are formed b...

Question 13

Discuss the UN Convention on the International Sale of Goods.

Accepted Answer

The UN Convention on the International S...

Question 14

Discuss the permanent normal trade relations status.

Accepted Answer

GATT attempts to impose nondiscriminator...

Question 15

The _____ round is the current trade-negotiation round of the World Trade Organization (WTO)  which commenced in 2001.

Accepted Answer

A)   Tokyo
B)   Geneva
C)   Uruguay
D)   Doha D

Question 16

Which of the following organizations is an intergovernmental organization?

Accepted Answer

A)   Red Cross
B)   Physicians for Social Responsibility
C)   Rotary International
D)   International Monetary Fund

Question 17

What is a custom?

Accepted Answer

Custom is a principle or practice that h...

Question 18

This federal agency is housed within the U.S. Department of Homeland Security. In terms of international business, the office is charged with the responsibility for collecting customs duties, export taxes, fees, and penalties owed for imported merchandise. Identify the federal agency in the discussion.

Accepted Answer

A)   The International Trade Administration
B)   The Office of the U.S. Trade Representative
C)   The U.S. Customs and Border Protection
D)   The Bureau of Industry and Security

Question 19

The ambassador of the Office of the U.S. Trade Representative (USTR) serves as a voting member of the Export-Import Bank.

Accepted Answer

A) True 
 B)False

Question 20

The Bureau of Industry and Security (BIS)  is located within the _____.

Accepted Answer

A)   Department of State
B)   Department of Commerce
C)   Department of Treasury
D)   Department of Justice

Exam 17: International Law and Business

Discuss franchising.

Correct Answer
verified
A license from the owner of a trademark ...
View Answer

In the context of international business, GATT stands for:

Correct Answer
verified

A treaty is simply a negotiated contract between parties who happen to be nations.

Correct Answer
verified

Which of the following types of legal systems exists in most of the Oceania?

Correct Answer
verified

Which of the following organizations replaced GATT as an international organization?

Correct Answer
verified

The most-favored-nation rule imposed a duty on member nations to:

Correct Answer
verified
D

An export management company generally is smaller and usually handles only one product or type of product.

Correct Answer
verified

Discuss the difference between an export trading company (ETC) and export management company (EMC).

Correct Answer
verified
A business may not have been contacted d...
View Answer

The Red Cross is an intergovernmental organization.

Correct Answer
verified

Which of the following terms best represents a negotiated contract between parties who happen to be nations?

Correct Answer
verified
B

Which of the following statements is true regarding the UN Convention on the International Sale of Goods (CISG) treaty?

Correct Answer
verified

What are the two types of international organizations?

Correct Answer
verified
International organizations are formed b...
View Answer

Discuss the UN Convention on the International Sale of Goods.

Correct Answer
verified
The UN Convention on the International S...
View Answer

Discuss the permanent normal trade relations status.

Correct Answer
verified
GATT attempts to impose nondiscriminator...
View Answer

The _____ round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced in 2001.

Correct Answer
verified
D

Which of the following organizations is an intergovernmental organization?

Correct Answer
verified

What is a custom?

Correct Answer
verified
Custom is a principle or practice that h...
View Answer

Correct Answer
verified

The ambassador of the Office of the U.S. Trade Representative (USTR) serves as a voting member of the Export-Import Bank.

Correct Answer
verified

The Bureau of Industry and Security (BIS) is located within the _____.

Correct Answer
verified

Exam 17: International Law and Business

Discuss franchising.

Correct AnswerverifiedA license from the owner of a trademark ...View AnswerShow Answer

In the context of international business, GATT stands for:

Correct AnswerverifiedShow Answer

A treaty is simply a negotiated contract between parties who happen to be nations.

Correct AnswerverifiedShow Answer

Which of the following types of legal systems exists in most of the Oceania?

Correct AnswerverifiedShow Answer

Which of the following organizations replaced GATT as an international organization?

Correct AnswerverifiedShow Answer

The most-favored-nation rule imposed a duty on member nations to:

Correct AnswerverifiedD

An export management company generally is smaller and usually handles only one product or type of product.

Correct AnswerverifiedShow Answer

Discuss the difference between an export trading company (ETC) and export management company (EMC).

Correct AnswerverifiedA business may not have been contacted d...View AnswerShow Answer

The Red Cross is an intergovernmental organization.

Correct AnswerverifiedShow Answer

Which of the following terms best represents a negotiated contract between parties who happen to be nations?

Correct AnswerverifiedB

Which of the following statements is true regarding the UN Convention on the International Sale of Goods (CISG) treaty?

Correct AnswerverifiedShow Answer

What are the two types of international organizations?

Correct AnswerverifiedInternational organizations are formed b...View AnswerShow Answer

Discuss the UN Convention on the International Sale of Goods.

Correct AnswerverifiedThe UN Convention on the International S...View AnswerShow Answer

Discuss the permanent normal trade relations status.

Correct AnswerverifiedGATT attempts to impose nondiscriminator...View AnswerShow Answer

The _____ round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced in 2001.

Correct AnswerverifiedD

Which of the following organizations is an intergovernmental organization?

Correct AnswerverifiedShow Answer

What is a custom?

Correct AnswerverifiedCustom is a principle or practice that h...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The ambassador of the Office of the U.S. Trade Representative (USTR) serves as a voting member of the Export-Import Bank.

Correct AnswerverifiedShow Answer

The Bureau of Industry and Security (BIS) is located within the _____.

Correct AnswerverifiedShow Answer

Correct Answer
verified
A license from the owner of a trademark ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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D

Correct Answer
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Correct Answer
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A business may not have been contacted d...
View Answer

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Correct Answer
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B

Correct Answer
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Correct Answer
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International organizations are formed b...
View Answer

Correct Answer
verified
The UN Convention on the International S...
View Answer

Correct Answer
verified
GATT attempts to impose nondiscriminator...
View Answer

Correct Answer
verified
D

Correct Answer
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Correct Answer
verified
Custom is a principle or practice that h...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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