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Q:
Which of the following is true of labor restrictions that can be placed on newly joined members under the EU?
A. that all restrictions have to be lifted after the first five years from joining
B. that the restrictions can be extended for two more years after the first five years of joining
C. that the restrictions can only be added on the first two years after joining
D. that the freedom of movement of workers is an absolute right for all Europeans upon joining the EU
Q:
Under the EC Treaty, the right of member state nationals and firms to settle permanently and carry on a business throughout the EU is known as the ________.
A. foreseeability standard
B. freedom to provide services
C. right to participation
D. right of establishment
Q:
The Treaty Establishing the European Community and the ________ of 2010 are the principal sources of law in the EU, pertaining to business between and among its member states.
A. Multilateral Agreement on Investment
B. Lisbon Treaty
C. Trade and Investment Framework Agreement
D. Free Trade Agreement
Q:
Which of the following is true of the Council for Trade in Services?
A. It is meant to function within the framework of the WTO.
B. It is an independent body with no direct affiliation with any other international trade organizations.
C. It develops the sectoral annexes that deal with issues unique to particular economic sectors.
D. It lays out general obligations and disciplines of member states of IMF.
Q:
The operation of GATS is overseen by the ________ made up of representatives of all WTO member states.
A. World Bank
B. International Monetary Fund
C. Trade Negotiations Committee
D. Council for Trade in Services
Q:
Which of the following terms refers to a GATS requirement that a WTO member state accord to services and service suppliers of other member states treatment no less favorable than what the member grants its own like services and service suppliers?
A. nolo contendere rule
B. market access
C. national treatment
D. foreseeability standard
Q:
Which of the following terms refers to a GATS requirement that a WTO member state accord to services and service suppliers of other member states treatment no less favorable than that listed in its GATS Schedule of Specific Commitments?
A. nolo contendere rule
B. ultra vires rule
C. market access
D. national treatment
Q:
The Framework Agreement has a provision that authorizes an exception to the MFN treatment rule when the difference in treatment is the result of ________.
A. a member granting monopoly status to a service supplier
B. an agreement for the avoidance of double taxation
C. adopting the guidelines specified by the Council on Trade in Services
D. a member retaining restrictive laws governing services
Q:
Under which of the following conditions, a member nation can apply restrictions on international transfers and payments for current transactions even though they are typically forbidden by GATS?
A. The member nation is in transition to a market economy.
B. The member nation wants to grant monopoly rights to a service supplier.
C. The member nation wishes to not adopt the guidelines of the Council on Trade in Services.
D. The member nation has been granted MFN status by another country.
Q:
GATS requires its member states to ensure that their domestic regulations affecting trade in services are administered in a reasonable, objective, and impartial manner and as soon as the ________ adopts harmonizing guidelines in these areas, it will require them to bring their practices into compliance with those guidelines.
A. Council for Trade-Related Aspects of Intellectual Property Rights
B. Trade Negotiations Committee
C. Council on Trade in Services
D. Council for Trade in Goods
Q:
The ________ in GATS requires member states to publish, prior to their entry into force, all of their national measures and international agreements that affect their obligations under GATS.
A. ultra vires rule
B. foreseeability standard
C. most-favored-nation treatment
D. transparency provision
Q:
The ________ is a GATS requirement that its member states accord immediately and unconditionally to services and service suppliers of other members treatment that is no less beneficial than that it accords to like services and service suppliers of any other state.
A. foreseeability standard
B. ultra vires rule
C. transparency provision
D. most-favored-nation treatment
Q:
Which of the following is governed by GATS?
A. trade-related aspects of intellectual property rights
B. trade in goods
C. temporary services rendered by laborers
D. laws governing the permanent employment of natural persons
Q:
The Framework Agreement covers all trade in services in any sector except those ________.
A. delivered in businesses involving international trade
B. supplied in the exercise of governmental functions
C. rendered in any bank related transactions
D. provided by private businesses within a country
Q:
Which of the following is present in the GATS Framework Agreement?
A. the terms, limitations, and conditions that can be placed on market access
B. the sectoral annexes that deal with issues unique to particular economic sectors
C. the list of service sectors that members are willing to open to the markets
D. the general obligations and disciplines to be followed by member states
Q:
Which of the following components of the GATS agreement deal(s) with issues unique to particular economic sectors, such as financial services and telecommunications?
A. the Framework Agreement
B. the sectoral annexes
C. the Schedules of Specific Commitments
D. the appendices
Q:
The ________ came into effect on January 1, 1995, as one of the three main multilateral annexes to the Agreement Establishing the World Trade Organization.
A. General Agreement on Trade in Services (GATS)
B. Central European Free Trade Agreement
C. Trade and Investment Framework Agreement (TIFA)
D. Alpine Convention
Q:
All states limit the number of permanent visas that they grant to immigrants.
Q:
Student visas do not come under the Visa Waiver Program in the United States.
Q:
In the United States, the H-1B visas are allocated to highly skilled professionals, engineers, and software experts to work with U.S. companies.
Q:
Apart from a Presidentially granted exception, the only means by which an American can lawfully leave the country or return to it is with a passport.
Q:
The Universal Declaration of Human Rights proclaims that every individual has the right to own a passport.
Q:
Only the Council of Europe has the power to sanction transnational labor unions in Europe.
Q:
The International Labor Organization is responsible for enforcing the European Convention on Human Rights of 1950.
Q:
Regulation 1612/68 limits the right of a worker to take up and pursue employment within any of the EU states.
Q:
The Universal Declaration of Human Rights is a leading treaty among several nations, which deals with labor issues.
Q:
The Universal Declaration of Human Rights protects laborers from being compelled to join an association.
Q:
The Administrative Tribunal of the ILO does not have the power to order an IGO to undertake an action it has not begun on its own.
Q:
The special list compiled by the Conference Committee of the ILO consists of the list of those member states that have entered into free trade agreements with some other states.
Q:
Recommendations are issued by the ILO when there is no consensus on the subject at hand.
Q:
The International Labor Office functions as the secretariat for the International Labor Organization.
Q:
The NAFTA provides MFN provisions for trade in services sectors.
Q:
The EUs freedom of movement for workers is an absolute right for all citizens in the EU.
Q:
An Italian woman opening a restaurant in England is exercising her right of establishment under the EC Treaty.
Q:
Dispute settlements related to GATS are governed by the Fact-Finding and Conciliation Commission on Freedom of Association.
Q:
The operation of GATS is overseen by WTOs Council for Trade in Services.
Q:
GATS members can list limitations on the number of natural persons that may be employed in a particular service sector in Schedule of Specific Commitments.
Q:
The GATS provides a provision for a departure from the principle of national treatment to ensure that direct taxes may be effectively collected on services.
Q:
The GATS does not allow exceptions to the MFN treatment rule.
Q:
The GATS covers trade-related aspects of intellectual property rights.
Q:
The Framework Agreement for GATS does not define what a service sector is.
Q:
The Framework Agreement for GATS lays out the scope and definition of GATS.
Q:
________ are mandatory laws and provisions that specify the characteristics of products; the processes and production methods for creating products; and the terminology, symbols, packaging, marking, or labeling requirements for products, processes, or production methods.
A. Stabilization clauses
B. Technical regulations
C. Rules of origin
D. Safeguards
Q:
________ is the customs value of goods that is determined by using whichever of the other methods best fit and adjusting it to the particular circumstances.
A. Transaction value
B. Deductive value
C. Computed value
D. Derived value
Q:
________ is the customs value of goods that is based on their price calculated from the cost of manufacture, overhead, and handling.
A. Transaction value
B. Deductive value
C. Computed value
D. Derived value
Q:
________ is the customs value of imported goods that is based on the price actually paid for similar goods by unrelated persons in the importing country at about the same time.
A. Transaction value
B. Deductive value
C. Computed value
D. Derived value
Q:
________ is the customs value of imported goods that is based on the price actually paid or payable for goods at the time they were sold for export.
A. Transaction value
B. Deductive value
C. Computed value
D. Derived value
Q:
Sectoral agreements of the WTO deal with ________.
A. technical barriers to trade
B. customs valuation
C. textiles and clothing
D. import-licensing procedures
Q:
Which of the following is true of the Missile Technology Control Regime?
A. It is a group of nuclear supplier countries.
B. It authorizes the UN Security Council to impose sanctions, including the adoption of bans on trade, on states whose actions threaten international peace.
C. It is a formal group with a permanent organization.
D. It was established to limit the proliferation of missiles capable of delivering nuclear weapons.
Q:
The ________ is the exporting states parties to the Treaty on Non- Proliferation of Nuclear Weapons that seek to harmonize their interpretations of the treatys export-control provision.
A. Australia Group
B. Zangger Committee
C. Nuclear Suppliers Group
D. Harmonized System
Q:
The ________ is a multilateral association of states concerned with curbing the proliferation of chemical and biological weapons.
A. Australia Group
B. Zangger Committee
C. Nuclear Suppliers Group
D. Harmonized System
Q:
The ________ is the intergovernmental arrangement and organization to coordinate national policies so that transfers of conventional arms and dual-use goods and technologies do not contribute to the development or enhancement of military capabilities that undermine international and regional security and are not diverted to support such capabilities.
A. Agreement on Trade Related Investment Measures
B. Harmonized System
C. Wassenaar Arrangement
D. Integrated Program for Commodities
Q:
________ are situations that excuse a WTO member state from complying with its GATT obligations when those are in conflict with its essential security interests or its duties under the United Nations Charter.
A. Harmonized Systems
B. General exceptions
C. Safeguards
D. Security exceptions
Q:
________ are situations that excuse a WTO member state from complying with its GATT obligations in order for the state to protect certain essential public policy objectives.
A. Harmonized Systems
B. General exceptions
C. Safeguards
D. Security exceptions
Q:
Emergency trade measures imposed to protect domestic industry from a surge of imports are called ________.
A. customs
B. tariffs
C. waivers
D. safeguards
Q:
The ________ allows a WTO member state to withdraw temporarily from its GATT obligations when there is a surge in the number of imports coming from other member states.
A. escape clause
B. general exception
C. security exception
D. indemnification clause
Q:
________ 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.
A. Customs Valuation Code
B. General Agreement on Tariffs and Trade
C. Integrated Program for Commodities
D. Agreement on Trade Related Investment Measures
Q:
Products obtained by extraction or harvest that require minimal processing before being used are called ________.
A. core products
B. secondary resources
C. augmented products
D. primary commodities
Q:
A ________ is a group of states that have reduced or eliminated tariffs among themselves and have also established a common external tariff.
A. customs union
B. free trade area
C. Harmonized System
D. Wassenaar Arrangement
Q:
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.
A. customs union
B. free trade area
C. Harmonized System
D. Wassenaar Arrangement
Q:
Which of the following best describes transparency?
A. It is the making of a decision by general agreement and in the absence of any voiced objection.
B. It is the relinquishment of an obligation owed by another.
C. It is a principle whereby a treaty may be invoked by a private person to challenge the actions of a state that is a party to the treaty.
D. It is a principle which states that governments must make their rules, regulations, and practices open and accessible to the public and other governments.
Q:
The ________ is a GATT scheme that allows developing states to grant tariff preferences to each other without having to grant them to developed states.
A. National treatment rule
B. Generalized System of Preferences
C. South-South Preferences
D. Escape clause
Q:
The ________ is a GATT scheme that allows a developing state to obtain tariff concessions from a developed state on a nonreciprocal basis.
A. National treatment rule
B. Generalized System of Preferences
C. South-South Preferences
D. Escape clause
Q:
Which of the following best describes direct effect?
A. It is the making of a decision by general agreement and in the absence of any voiced objection.
B. It is the relinquishment of an obligation owed by another.
C. It is a principle whereby a treaty may be invoked by a private person to challenge the actions of a state that is a party to the treaty.
D. It is a principle that governments must make their rules, regulations, and practices open and accessible to the public and other governments.
Q:
Which of the following terms refers to the relinquishment of an obligation owed by another?
A. social referencing
B. consensus
C. waiver
D. direct effect
Q:
The making of a decision by general agreement and in the absence of any voiced objection is called ________.
A. social referencing
B. expropriation
C. waiver
D. consensus
Q:
Which of the following is an organ of the World Trade Organization?
A. Council for Trade in Services
B. International Monetary Fund
C. World Bank
D. Nuclear Suppliers Group
Q:
The World Trade Organization was a result of the ________.
A. Dillon Round
B. Tokyo Round
C. Kennedy Round
D. Uruguay Round
Q:
The ________ included the GATT MTNs held from 1973 to 1979 that produced six nontariff codes.
A. Dillon Round
B. Tokyo Round
C. Kennedy Round
D. Uruguay Round
Q:
The ________ included the GATT MTNs held from 1964 to 1967 that established the practice of setting an agenda for and defining the techniques to be used during GATT negotiations.
A. Dillon Round
B. Tokyo Round
C. Kennedy Round
D. Uruguay Round
Q:
A round is a meeting of the contracting parties of GATT to participate in ________.
A. a Harmonized System
B. multilateral trade negotiations
C. commodity arrangements
D. the Wassenaar Arrangement
Q:
Once goods are legally imported, they must be treated the same way as domestic goods. This is called ________.
A. dumping
B. direct effect
C. transparency
D. national treatment
Q:
The ________ is a multilateral agreement that set out the rules under which the contracting states parties were committed to negotiate reductions in customs tariffs and other impediments to international trade in goods.
A. Agreement on Preshipment Inspection
B. General Agreement on Tariffs and Trade
C. Agreement on Safeguards
D. Wassenaar Arrangement
Q:
Which of the following was a function of the International Monetary Fund?
A. It ensured monetary stability and facilitated currency exchange.
B. It assisted war-ravaged and developing countries to reconstruct or upgrade their economies.
C. It administered a comprehensive code governing the conduct of world trade.
D. It discouraged trade discrimination.
Q:
A safeguard 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 product.
Q:
A countervailing measure is a duty specifically levied to offset dumping.
Q:
An actionable subsidy is permissible and nonchallengeable, such as government funding to underwrite research activities, to aid disadvantaged regions, or to help existing facilities adapt to new environmental requirements.
Q:
Prohibited subsidies are also known as red subsidies.
Q:
Nonactionable subsidies are also known as yellow subsidies.
Q:
A tax credit is an example of a subsidy.