Question 1

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Accepted Answer

A) True 
 B)False

Question 2

West Africa Investments, Inc., a U.S. firm, and Findora Commercial, a Nigerian firm, are parties to a contract that specifies that the official language of the contract is English. This is​

Accepted Answer

A)   ​a choice-of-forum clause.
B)   ​a choice-of-language clause.
C)   ​a choice-of-law clause.
D)   ​an arbitration clause.E) C) and D)
F) All of the above

Question 3

International Media, Inc., a U.S. firm, expands into global markets through a joint venture. In the venture, International Media shares responsibilities and​

Accepted Answer

A)   ​both the profits and liabilities.
B)   ​none of the profits or liabilities.
C)   ​the profits, but not the liabilities.
D)   ​the liabilities, but not the profits.E) A) and D)
F) A) and C)

Question 4

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Total World Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if​

Accepted Answer

A)   ​the agreement was made in Switzerland.
B)   ​the agreement was made in the United States.
C)   ​the price fixing has a substantial effect on U.S. commerce.
D)   ​the Swiss government agrees to be sued in the United States.E) C) and D)
F) A) and B)

Question 5

The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is

Accepted Answer

A)   ​a dumping duty.
B)   ​an antidumping duty.
C)   ​a quota.
D)   ​a tariff.E) A) and C)
F) All of the above

Question 6

Generally, a foreign government cannot sue under U.S. antitrust laws in U.S. courts.

Accepted Answer

A) True 
 B)False

Question 7

A foreign citizen can bring a civil suit in a U.S. court for a violation of an international tort law.

Accepted Answer

A) True 
 B)False

Question 8

Real World Sports Corporation (RWSC)  is a U.S. firm with a workplace in Switzerland. Generally, RWSC must abide by U.S. anti-discrimination laws in Switzerland​

Accepted Answer

A)   ​under any circumstances.
B)   ​under no circumstances.
C)   ​unless to do so would contravene the cultural norms of Switzerland.
D)   ​unless to do so would violate the law of Switzerland.E) B) and C)
F) A) and B)

Question 9

The U.S. corporation Burger Heaven makes a deal with an Icelandic firm that allows the Icelandic firm to use Burger Heaven's trade name in Iceland in return for a fee. This is​

Accepted Answer

A)   ​a franchise.
B)   ​piracy.
C)   ​a joint venture.
D)   ​direct exporting.E) A) and B)
F) All of the above

Question 10

Business Universal Corporation, a U.S. firm, establishes a wholly owned subsidiary firm in Brazil. In this situation, Business Universal retains complete control and authority over​

Accepted Answer

A)   ​all of the operation.
B)   ​only the part of the operation in the United States.
C)   ​none of the operation.
D)   ​about half of the operation.E) A) and D)
F) A) and C)

Question 11

The simplest way for a U.S. firm to do business in a foreign market is to export its products directly to that market.

Accepted Answer

A) True 
 B)False

Question 12

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Accepted Answer

A) True 
 B)False

Exam 16: International Law in a Global Economy

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Correct Answer
verified

International Media, Inc., a U.S. firm, expands into global markets through a joint venture. In the venture, International Media shares responsibilities and

Correct Answer
verified

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Total World Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if

Correct Answer
verified

Business Universal Corporation, a U.S. firm, establishes a wholly owned subsidiary firm in Brazil. In this situation, Business Universal retains complete control and authority over

Correct Answer
verified

West Africa Investments, Inc., a U.S. firm, and Findora Commercial, a Nigerian firm, are parties to a contract that specifies that the official language of the contract is English. This is

Correct Answer
verified

A foreign citizen can bring a civil suit in a U.S. court for a violation of an international tort law.

Correct Answer
verified

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Correct Answer
verified

The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is

Correct Answer
verified

The U.S. corporation Burger Heaven makes a deal with an Icelandic firm that allows the Icelandic firm to use Burger Heaven's trade name in Iceland in return for a fee. This is

Correct Answer
verified

Real World Sports Corporation (RWSC) is a U.S. firm with a workplace in Switzerland. Generally, RWSC must abide by U.S. anti-discrimination laws in Switzerland

Correct Answer
verified

Generally, a foreign government cannot sue under U.S. antitrust laws in U.S. courts.

Correct Answer
verified

The simplest way for a U.S. firm to do business in a foreign market is to export its products directly to that market.

Correct Answer
verified

Exam 16: International Law in a Global Economy

Foreign exchange markets comprise a worldwide system for buying and selling currency.

Correct AnswerverifiedShow Answer

International Media, Inc., a U.S. firm, expands into global markets through a joint venture. In the venture, International Media shares responsibilities and​

Correct AnswerverifiedShow Answer

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Total World Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if​

Correct AnswerverifiedShow Answer

Business Universal Corporation, a U.S. firm, establishes a wholly owned subsidiary firm in Brazil. In this situation, Business Universal retains complete control and authority over​

Correct AnswerverifiedShow Answer

West Africa Investments, Inc., a U.S. firm, and Findora Commercial, a Nigerian firm, are parties to a contract that specifies that the official language of the contract is English. This is​

Correct AnswerverifiedShow Answer

A foreign citizen can bring a civil suit in a U.S. court for a violation of an international tort law.

Correct AnswerverifiedShow Answer

When a U.S. firm wishes to increase its involvement in an international market, it normally establishes an agency relationship with a foreign firm.

Correct AnswerverifiedShow Answer

The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is

Correct AnswerverifiedShow Answer

The U.S. corporation Burger Heaven makes a deal with an Icelandic firm that allows the Icelandic firm to use Burger Heaven's trade name in Iceland in return for a fee. This is​

Correct AnswerverifiedShow Answer

Real World Sports Corporation (RWSC) is a U.S. firm with a workplace in Switzerland. Generally, RWSC must abide by U.S. anti-discrimination laws in Switzerland​

Correct AnswerverifiedShow Answer

Generally, a foreign government cannot sue under U.S. antitrust laws in U.S. courts.

Correct AnswerverifiedShow Answer

The simplest way for a U.S. firm to do business in a foreign market is to export its products directly to that market.

Correct AnswerverifiedShow Answer

Correct Answer
verified

International Media, Inc., a U.S. firm, expands into global markets through a joint venture. In the venture, International Media shares responsibilities and

Correct Answer
verified

Suisse Internationale, a Swiss maker of athletic equipment, enters into a price fixing agreement with Total World Sports, a U.S. wholesaler of Suisse's products. U.S. courts will apply U.S. antitrust laws if

Correct Answer
verified

Business Universal Corporation, a U.S. firm, establishes a wholly owned subsidiary firm in Brazil. In this situation, Business Universal retains complete control and authority over

Correct Answer
verified

West Africa Investments, Inc., a U.S. firm, and Findora Commercial, a Nigerian firm, are parties to a contract that specifies that the official language of the contract is English. This is

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The U.S. corporation Burger Heaven makes a deal with an Icelandic firm that allows the Icelandic firm to use Burger Heaven's trade name in Iceland in return for a fee. This is

Correct Answer
verified

Real World Sports Corporation (RWSC) is a U.S. firm with a workplace in Switzerland. Generally, RWSC must abide by U.S. anti-discrimination laws in Switzerland

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified