The number of layers of governmental regulation a global business must contend with in the U.S. if it chooses to do business there is:

Group of answer choices

None - The business can apply for an exemption from U.S. law and have all legal matters settled by contract or in an international tribunal.

1 - Only the federal government may create laws that affect the operations of the business.

Three - Federal, state and local governments may all create laws that affect the operations of the business.

2 - Federal and state governments, each a form of sovereign, may create laws that affect the operations of the business.