FIN571 FINAL PAPER 30 30 MCQs correct answers 2

Question: #272

1) By default, a case involving an international dispute is prosecuted only in

the International Court of Justice
a court in the plaintiff’s country
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
Choice of law clause
Equal Protection Clause
Supremacy Clause

3) Which of the following is provided under the Foreign Sovereign Immunities Act?

It exclusively governs suits against foreign nations that are brought in courts in the United States.
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
The United States, Mexico, and Canada

5) Which of the following products would be covered by the Consumer Product Safety Act?

Toys
Automobiles
Aircraft
Firearms

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.
All genetically altered foods must be clearly labeled as such.
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?

World Trade Organization
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 Foreign Commerce Clause and the Treaty 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
Tying arrangement
Price fixing

10) Which of the following is codified under the Foreign Sovereign Immunities Act?

The act of state doctrine
The principle of restricted immunity
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
Yes. This is buyers’ illegal per se price fixing

12) In the United States, how may states regulate interactions with foreign nations?

The states can pass laws so long as they do not unduly burden foreign commerce, but the states have no authority to enter into treaties 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.