Question 90

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The ____ is responsible for promoting international trade by working to promote the stability of government finances and currency exchange rates.

Select one:

a.

World Intellectual Property Organization

b.

World Bank

c.

World Trade Organization

d.

Commission on International Trade Law

e.

none of the other choices are correct

Question 91

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Fact Pattern 22-1 Naida Baronowski is an American fashion designer who has a design firm in Chicago. Naida has been successful in the U.S. and wants to expand her operation overseas. She hopes to open shops in Paris, Milan, Madrid, Rome, Vienna, and Moscow in the next several years. Naida is unfamiliar with foreign operations. She comes to you, her attorney, for advice about how she should pursue her goal of becoming an international fashion company.

Refer to Fact Pattern 22-1. If Naida keeps her Joliet plant, and ships her clothes from the U.S. to Paris, Madrid, and other cities, she may be subject, in the U.S., to:

Select one:

a.

import restrictions

b.

tariff controls

c.

export regulations

d.

ad valorem taxes

e.

licensing fees

Question 92

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Since 1995, the ____ has overseen trade agreements and has worked to set up a dispute-resolution system using three-person arbitration panels.

Select one:

a.

the United Trade Organization

b.

the International Trading Union

c.

the General Agreement on Tariffs and Trade

d.

the World Trade Organization

e.

the Unified Trade Group

Question 93

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The International Trade Administration is the major export promotion agency of the U.S. government.

Select one:

True

False

Question 94

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Payment clauses are used to deal with problems of inflation and currency exchange rates.

Select one:

True

False

Question 95

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Denmark is rated the least corrupt nation in the world.

Select one:

True

False

Question 96

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Some countries make it hard for foreign businesses to get money earned in their markets out of the country.

Select one:

True

False

Question 97

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Major areas in which WTO members could not agree to reduce trade barriers are the film and music industries.

Select one:

True

False

Question 98

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The International Trade Commission may impose an antidumping duty on goods imported to the U.S. that are being sold for less than the price charged in the home market.

Select one:

True

False

Question 99

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The International Trade Commission may restrict imports to help foreign companies better compete in U.S. markets.

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True

False

Question 100

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Parties to an international contract may not specify an official language that will be used to interpret the contract as international law requires official versions be in the languages of both parties to the trade.

Select one:

True

False