International Business Law

Multiple choice

1.Which of the following statement is correct?

a. The are no exceptions in the WTO rules to the most-favoured-nations(MFN) principle.

b. There is normally no necessity for countries acceding to the WTO to amend their domestic legislation, as all provisions of the WTO agreements automatically apply to the citizens of members countries.

c. The WTO anti-dumping (AD) rules allow individual governments to act against dumped imports where there is dumping and material injury to the competing domestic industry.

d. None of the above statements is correct.

2.Which of the following is true?

a. Free trade areas and customs unions are a violation of the most-favoured-nation principle, but were permitted by the contracting parties to the GATT so long as they created trade.

b. Free trade areas and customs unions are a violation of the national treatment principle, but were permitted by the contracting parties to the GATT so long as they created trade.

c. Free trade areas and customs unions do not conflict with wither with most-favoured-nation or national treatment principles of the GATT.

d. None of the above is true.

3. Which of the following statements is correct?

a. Members of the WTO are free to develop their Own AD and CVD duty law, free from any rules developed by multinational organizations.

b. The founding documents of the WTO comprise more than 20 different agreements; countries are free to accede to all or a part of the list as suits their domestic trade policy.

c. A major change accomplished by the Uruguay Round was the inclusion of services in the international trade rules of the WTO.