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Define tariffs and how they may be calculated.Additionally,define a nontariff barrier and list and define three types of non-tariff barriers.

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Tariffs are taxes levied on imported goo...

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Which of the following refers to an agent who distributes,represents,or sells goods on behalf of a foreign seller?


A) Export representative
B) Foreign exportation proponent
C) International sales and importation expert
D) Import representative
E) Foreign sales representative

F) A) and D)
G) B) and D)

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[Miracle Face] Yoshe developed a great new type of face cream guaranteed to provide total sun protection,remove wrinkles,and result in anyone looking at least ten years younger.Her product,Miracle Face,became extremely popular in the U.S. ,where she has several shops,and also in other countries to which it was shipped.Yoshe has a number of individuals in other countries seeking to team with her in selling Miracle Face.Sam,a citizen of Mexico,asks that she grant him permission to use her name and any associated trademarks,and allow him to sell Miracle Face in Mexico.Yoshe has an offer,however,from another Mexican citizen,Nora.Nora proposes that she and Yoshe associate together,open a business to sell Miracle Face,and share profits and management responsibilities.Yoshe has also thought about opening her own business in Mexico in conformity with Mexican laws.She would then,hire employees in Mexico to sell the product.Another matter Yoshe has considered is simply arranging for her products to be shipped to Mexico for sale,and she is interested in the effect of any trade agreements in effect between the U.S.and Mexico. -Assuming that Yoshe decides to make the deal Sam proposes,Sam would be referred to as an) and Yoshe would be referred to as an) .


A) Venturor;Venturee
B) Franchisee;Franchisor
C) Representative Offeror;Representative Offeree
D) Affiliator;Affiliatee
E) Franchisor;Franchisee

F) C) and E)
G) A) and E)

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For a U.S.court judgment to be enforceable,the court must have either personal jurisdiction or subject-matter jurisdiction.

A) True
B) False

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principle requires that World Trade Organization member states treat like goods coming from other World Trade Organization member states on an equal basis.


A) The nondiscriminatory
B) The fairness
C) The normal trade relations
D) The quantitative restrictions
E) The like treatment

F) A) and B)
G) C) and D)

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Which of the following is a tax levied on imported goods?


A) Indirect barrier
B) Embargo
C) Dumping
D) Non-tariff barrier
E) Tariff

F) None of the above
G) D) and E)

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Does an Illinois court have general personal jurisdiction over DroneTek?


A) Yes,because the D2000 was sold in Illinois
B) No,because Illinois has specific personal jurisdiction over DroneTek.
C) Yes,if the value of Reymond's claim is over $50,000.
D) No,because DroneTek does not maintain a presence in Illinois.
E) Yes,because its product was defective and injured a resident of Illinois.

F) A) and E)
G) A) and D)

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There are three basic types of regional trade agreements: multilateral free trade agreements,customs unions,and bilateral free trade agreements.

A) True
B) False

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True

A foreign sales representative does the same thing as a distributor when conducting business internationally.

A) True
B) False

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According to the General Agreement on Tariffs and Trade,a subsidy is a government financial contribution that allots a benefit to a specific industry or enterprise.

A) True
B) False

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A is a free trade area with the additional feature of a common external tariff on products originating from outside the union.


A) Free trade union
B) External tariff union
C) Customs trade union
D) Customs union
E) International tariff union

F) A) and B)
G) A) and C)

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Many are derived from Roman law.


A) Case law legal systems
B) Common law systems
C) Civil law systems
D) Islamic legal systems
E) Socialist legal systems

F) B) and E)
G) A) and E)

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Wholly Wool's President claims the United States is in violation of GATT because of the improper restriction on the amount of lambswool that can be imported.Is he correct?


A) Yes,because the quantitative restriction was made for national economic reasons
B) No,because the U.S.is entitled to tax like goods.
C) Yes,because GATT prohibits all restrictions on importation of domestic animal products.
D) No,because GATT allows quantitative restrictions that have a rational basis.
E) No,because the goods are also produced in the United States.

F) A) and B)
G) A) and C)

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A[n] purchases goods from a seller for resale in a foreign market and actually takes title to the goods assuming the risk of being unable to resell them.


A) Licensing agent
B) Affiliate agent
C) Distributor
D) Foreign sales representative
E) Joint agent

F) B) and D)
G) A) and E)

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C

[Weeds] Cecelia developed a product guaranteed to immediately kill weeds,but will absolutely not kill any other type of grass or shrub.She has encountered several individuals and businesses in other countries who would like to enter into contracts with her and market her products internationally.She consulted with Willie,who just graduated law school and has yet to pass the bar,and asked him for advice regarding those contracts.Willie proceeded to tell her that she should simply enter into the same type of contract with international businesses and individuals from other countries as she would if those individuals and businesses were located in the United States.He tells her that if there is any problem,then they will simply have to come to the United States to settle the matter,and that any issues would be determined in Cecelia's home county,in her home state,and under her state's law.He also mentions to her that she should consider contacting local foreign officials in the areas in which she would like her product sold,and suggest to them that she can contribute heavily to election campaigns,if she is allowed without any trouble,to obtain necessary business licenses and approvals to do business. -Which of the following is true regarding Willie's advice that Cecelia should contact foreign officials regarding election campaign contributions?


A) Willie was incorrect,and following his advice would put Cecelia in danger of violating foreign laws in the countries in which she makes such offers;but she would not be in danger of violating any U.S.laws.
B) Willie was incorrect,and following his advice would put Cecelia in danger of violating the Foreign Corrupt Practices Act.
C) Willie was correct,and following his advice is a good idea for Cecelia.
D) Willie was incorrect,and following his advice would put Cecelia in danger of violating the federal Unfair Competition Act.
E) Willie was incorrect,and following his advice would put Cecelia in danger of violating the Uniform Anti-Bribery Statute.

F) C) and E)
G) A) and E)

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B

Which of the following is not true about common law systems?


A) The judge is not responsible for gathering any evidence
B) It is an adversarial system.
C) The judge does not typically get involved in the case until trial
D) Judges are appointed or elected
E) Juries are not used.

F) A) and B)
G) C) and E)

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Which of the following is the most common legal system in the world?


A) The common law system.
B) The civil law system.
C) The socialist legal system.
D) The EU
E) The United States legal system

F) None of the above
G) A) and E)

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Which of the following is a characteristic of civil law?


A) Civil law systems use a form or system of separation of powers.
B) The civil law procedure is like the U.S.system of checks and balances.
C) Precedent is an important source of law in the civil law system.
D) In civil law systems the legislative branch has little authority.
E) The judicial branch in civil law systems may create its own new law.

F) B) and E)
G) All of the above

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Albert has a great idea for a new vacuum cleaner and received a patent for his design.Albert finds a Canadian company to sell his vacuum cleaners in Canada,but Albert wants to ensure his patented idea is protected.What type of contract should Albert negotiate with the Canadian company?


A) Franchise agreement.
B) Licensing agreement.
C) Forum selection agreement.
D) Distributorship agreement.
E) Joint venture.

F) A) and E)
G) None of the above

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Which of the following systems originated from the English legal system?


A) Statutory law
B) Civil law
C) Common law
D) Asian law
E) Inquisitorial law

F) C) and D)
G) D) and E)

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