BA 3304

A(n)____ is a business firm operating branches, subsidiaries, or joint ventures in two or more states.

Multinational enterprise

______ is based on principles found in the Koran and related writings.

Shari'a

A doctrine which states that all persons, including the sovereign, are subordinate to the rules of law is called the _______.

Supremacy of the Law

A _______ is a legally binding agreement between two or more states.

Treaty

which of the following describes a spot contract?

a contract fro the immediate sale and delivery of a commodity, such as currency

a group of states that have reduced or eliminated trade barriers among themselves and have established a common external tariff is called ______.

a customs union

according to the doctrine of imputability, ______.

a state is only responsible for actions that are attributable to it

the doctrine of international standard of care states that_____.

a state is responsible for injuring an alien when the states conduct violates international norms

which of the following is true of subsidiary?

a subsidiary insulates the parent company from unlimited liability

a(n) ________ is a subsidy that may be challenged as a trade distorting if it injures the domestic industry of another WTO member state, nullifies or impairs the benefits due to another member state or causes or threatens to cause serious prejudice to the interests of another member state

actionable subsidy

which of the following categories can claim priority while applying for a permanent visa as established by the U.S. immigration and nationality act?

aliens with special skills

which of the following is true of a company's agent situated in a foreign country?

an agent is not subject to the laws of the parent-nation

which of the following is a dispute settlement organ of the WTO that is charged with administering and carrying out the dispute settlement understanding?

appellate body

visas are different from passports in that visas

are issued by the host nation

the ______ is an intergovernmental organization, headquartered in Basel, which functions as a bank for the world's central banks

bank fro international settlements

_____ are laws enacted in some countries to obstruct the extraterritorial application of U.S. antitrust laws by limiting a plaintiffs right to obtain evidence or to enforce a judgement, and that allows a defendant to bring suit locally to recover punitive damages paid in the united states

blocking statutes

the _____ is an agreement between a host state and a foreign investor that says that the investor will not seek the diplomatic assistance of his, her or its home state in resolving disputes with the host state

calvo clause

the _____ is a provision in a contract designating the state whose law will govern disputes relating to the contract

choice of law clause

The practice or courtesy existing between states of treating each other with goodwill and civility is called _______.

comity

the process by which an impartial third party makes an independent investigation and suggests a solution to a dispute is called

concilliation

only countries that are parties to the climate change convention or the _____ are eligible to receive funds from the global environment facility (GEF).

convention on biological diversity

______ are legally binding agreements between states sponsored by international organizations

conventions

which of the following are sponsored by the ILO when there is substantial agreement in the international community about a particular labor practice?

conventions

in civil law countries, a(n) ______ is any private wrong or injury or a minor public wrong or injury

delict

_____ is a form of international dispute settlement that attempts to reconcile parties to a disagreement by use of negotiation, mediation or inquiry.

diplomacy

in municipal law, the right of a government to "take" property for public purposes is known as______.

eminent domain

accounts is domestic banks that are maintained and paid in a foreign currency are generally known as

eurocurrency deposits

______ is the state's taking or deprivation of the property of foreigners.

expropriation

depriving a person or company of private property without compensation is called

expropriation

the parts of a states economy in which foreigners are encouraged to invest are called

foreign priority sectors

the _____ is a provision in a contract designating a particular court or tribunal to resolve any dispute that may arise concerning the contract.

forum section clause

______ are areas in international airports and harbors where travelers can buy goods free of local sales and excise taxes

free retail zones

a ____ is a group of states that have reduced or eliminated tariffs among themselves but that maintain their own individual tariffs in dealing with other states

free trade area

a free sone located within or near a port city is called

free trade zone

______ are geographical areas wherein goods may be imported and exported free from customs tariffs and in which a variety of trade-related activities may be carried on.

free zones

the ______ doctrine holds that courts should apply the law of the state that has the most interest in determining the outcome of the dispute

governmental interest

an international multinational enterprise differs from a multinational enterprise in that an international multinational enterprise

has two or more parent companies located in different states

____ is the proposal of developing countries that would establish a common fund to underwrite the costs of maintaining a buffer stock of primary commodities as a way to stabilize supplies.

integrated program for commodities

The united nations is a type of ______.

intergovernmental organization

the _____ is a specialized agency of the united nations responsible for promoting international efforts to improve working conditions, living standards and the equitable treatment of workers worldwide

international labor organization

a subsidiary differs from a branch in that a subsidiary_______

is a company organized as a separate legal entity that is owned by the parent

which of the following is true of the visa waiver programs?

it allows tourists to stay in a host nation for a limited time without a visa

in case of a person with dual citizenship, which of the following is true about using the lack of nationality objection for the two countries involved?

it cannot be used against the country of master nationality by the other country

which of the following is true of the composition of the international court of justice?

it is composed of 15 judges

which of the following is true of the world trade organization? (wto)

it is responsible for implementing and enforcing the rules of international trade between nations

Which of the following characterizes arbitration?

it is the process by which parties to a dispute submit their differences to the judgement of an impartial third person or group selected by mutual consent

which of the following is true of the international criminal court?

its jurisdiction and functioning are governed by the rome statute

which of the following is true of the international fund fro agricultural development (IFAD)?

its membership is open to any member of the UN

the common law of europe is called the______.

jus commune

the treaty establishing the european community and the ______ of 2010 are the principal sources of lain in the EU, pertaining to business between and among its member states.

lisbon treaty

which of the following terms refers to a GATS requirement that a WTO member state accord to services suppliers of other member states treatment no less favorable than that listed in its GATS schedule of specific commitments?

market access

the ______ is the money used to define the amount of an obligation

money of account

the _____ is a body of the world bank that provides political risk insurance guarantees to private sector investors and lenders.

multilateral investment guaranty agency

a round is a meeting of the contracting parties of GATT to participate in _______

multilateral trade negotiations

once goods are legally imported,they must be treated the same way as domestic goods. this is called _____.

national treatment

acquisition by a state of property previously held by private persons or companies, usually in exchange for some consideration is called_____.

nationalization

A(n) ______ is a domestic firm that operates internationally through independent foreign agents

non multinational enterprise

which of the following terms refers to the assurance of a host government that foreign investors will be treated the same way as local investors?

nondiscrimination guarantee

the OPIC provides insurance for creeping expropriations ______.

only if the investor is willing to give up all claims to the investment

which of the following is a type of regulation against hiring foreign workers?

percentile legislation

products obtained by extraction or harvest that require minimal processing before being used are called______.

primary commodities

the parts of a states economy that are fully open to foreign investors are called___.

restricted sectors

the _____ was issued by the united nations conference on the environment and development and it linked protection of the environment and development as related goals

rio declaration

the ____ is a rule applied by courts on a case by case basis requiring them to consider all of the circumstances in deciding whether a restrictive practice should be prohibited as imposing an unreasonable restraint on competition in violation of Sherman as section 1.

rule of reason

a(n)______ is an emergency action that a WTO member state may take in order to protect its domestic industry from serious injury due to a sudden increase in the quantity of an imported good

safeguard

_____ prohibits contracts, agreements and conspiracies that restrain interstate or international trade

section 1 of the Sherman act

which of the following sections of the IMF articles of agreement requires a member to buy its own currency from other members who have acquired it as the result of a current transaction?

section 4 of article VIII

________ are situations that excuse a WTO member state from complying with its GATT obligations when those in conflict with its essential security interests or its duties under the united nations charter.

security exceptions

the______ is a GATT scheme that allows developing states to grant tariff preferences to each other without having ti grant them to developed states.

south-south preferences

which of the following is the reserve currency used by the IMF?

special drawing currency (SDR)

GATS differs from NAFTA in that GATS

specifically defines four basic modes of supply

_____ promise foreign investors that the host government will not change its tax, foreign exchange or other legal regime for a certain period of time or that changes subsequent to the establishment will not affect that enterprise.

stabilization clause

_____ are mandatory laws provisions that specify the characteristics of products: the processes and production methods for creating products; and the terminology, symbols, packaging, making or labeling requirements for products, processes or production methods.

technical regulations

which of the following is true of corporations and companies being treated as separate legal entities?

the liability of the owners becomes limited to their investment in their company

which of the following IMF facilities essentially acts as bridging loans provided to member states while the IMF deliberates about whether to provide funds to the particular member state?

the standby arrangement

which of the following international treaty on global warming was adopted with the rio declaration?

the united nations framework convention on climate change

which of the following is a relation between the world bank and the global environment facility (GEF)?

the world bank is responsible for managing the trust fund of the global environment facility

which of the following is true of NAFTA members right to change the limitations on their sectoral list?

they cannot make it more restrictive than it is

which of the following would be a valid reason for the parent company to convert a branch into a locally organized subsidiary?

to insulate the parent company from liability

the ______ is a law enacted by the united states in 1968 that authorizes the securities and exchange commission to issue rules regulating takeover bids.

williams act