FIN 571 FINAL PAPER 30 30 MCQs correct answers 2
1) By default, a case involving an international dispute is prosecuted only in
- the International Court of Justice
- a court in a neutral country
- a court in the defendant’s country
2) ________ is a clause in an international contract that designates which nation's laws will be applied in deciding a dispute arising out of the contract
- Forum-selection clause
- Equal Protection Clause
- Supremacy Clause
3) Which of the following is provided under the Foreign Sovereign Immunities Act?
- It stipulates the rules for conflict resolution among the DR-CAFTA members.
- It endows the president with powers to enter into treaties with foreign nations.
- It regulates commerce between the United States and foreign nations.
4) Negotiators from which of the following nations signed the North American Free Trade Agreement in 1992?
- The United States and Mexico
- The United States and Canada
- The United States, Mexico, and Panama
5) Which of the following products would be covered by the Consumer Product Safety Act?
6) Which of the following is required under the Biosafety Protocol sponsored by the United Nations in the year 2000?
- Whenever genetically altered foods are offered for sale, comparable food that is not genetically altered must be made available at a comparable price.
- Genetically altered foods must be shipped in separate containers from foods that are not genetically altered.
- Nations are free to prohibit the import of genetically altered foods without violating free-trade agreements.
7) Which of the following is an international organization of 153 member nations created in 1995 to promote and enforce trade agreements among member countries and customs territories?
- North American Free Trade Commission
- General Agreement on Tariffs and Trade
- International Monetary Fund
8) What are the primary sources in the U.S. Constitution of the federal government’s power over international affairs?
- The Treaty Clause and the Police Power Clause
- The Treaty Clause and the War Powers Clause
- The Commerce Clause and the Privileges and Immunities Clause
9) Which of the following is a restraint of trade in which a seller refuses to sell one product to a customer unless the customer agrees to purchase a second product from the seller?
- Predatory pricing
- Group boycott
- Price fixing
10) Which of the following is codified under the Foreign Sovereign Immunities Act?
- The act of state doctrine
- The choice of forum clause
- The supremacy clause
11) Three of the largest automobile dealers agreed among themselves as to what price they would pay to manufacturers for windshields to put in new vehicles. Would this constitute illegal price fixing? If so, what kind?
- Yes. This is sellers’ illegal per se price fixing
- Yes. This is both buyers’ and sellers’ illegal per se price fixing
- No. This is not illegal price fixing
12) In the United States, how may states regulate interactions with foreign nations?
- The states can pass laws affecting foreign commerce and enter into treaties with foreign nations so long as they first obtain the consent of the Senate.
- The states can pass laws and enter into treaties with foreign nations so long as they do not unduly burden foreign commerce.
- The states have no power over foreign affairs because the U.S. Constitution grants that power exclusively to the federal government.