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Q:
China is not a member of the World Trade Organization, which puts it at a great disadvantage.
Q:
Discuss lobbying as a nonmarket strategy in the European Union.
Q:
Discuss the Directive on Data Protection at the EU level.
Q:
Write a short note on the Social Charter and European Labor Markets.
Q:
Describe the EU legislative process. What changes did the Single European Act make to it?
Q:
Write a short note on the tasks of the European Commission and the Council of Ministers.
Q:
The Maastricht Treaty ________.
a) formally recognized the Charter for Fundamental Rights
b) established an independent European Central Bank
c) made human and civil rights enforceable by the European Union
d) addressed several impediments to trade and provided measures to facilitate access to national markets
Q:
Which of the following is true with regard to peak associations?
a) The use peak organizations for political and other nonmarket actions is not customary in Europe.
b) Peak associations play a number of roles, including the monitoring of government activities, the funneling of information and expertise from their members to the government, and lobbying.
c) The role of peak organizations is insignificant at the EU level.
d) Peak organizations do not participate in lobbying.
Q:
To provide a voice to groups that would otherwise be underrepresented, the EU provides funding for ________ to participate in political and policy-making processes.
a) trade unions
b) work councils
c) lobby committees
d) NGOs
Q:
________ is the principal political activity for implementing both representation and informational strategies in the European Union.
a) Canvassing
b) Lobbying
c) Petitioning
d) Tax resistance
Q:
The ________ are a locus of expertise and play important roles in how a member state votes in the Council of Ministers.
a) regional trade associations
b) lobby unions
c) national ministries
d) petition committees
Q:
The United States more frequently relies on the ________ approach to regulation, as in the case of Internet privacy.
a) command-and-rule
b) voluntary
c) preemptive
d) incentive-based
Q:
In 1995 most EU member states signed the ________, which eliminated border checks so as to allow the free flow of people within the signatory states.
a) Maastricht Treaty
b) Treaty of Lisbon
c) Schengen Agreement
d) Treaty of Rome
Q:
Which of the following is true with regard to the EUs Common Agriculture Policy (CAP)?
a) It provided a vision for the free circulation of labor and the rights to fair wages, improvement of living and working conditions.
b) It provided subsidies to farmers totaling 41 billion in 2009.
c) It substantially reduced farming subsidies in 2009 leading to widespread protests.
d) It aimed at limiting competition by proposing internal barriers to trade.
Q:
Which of the following EU institutions is responsible for reviewing large mergers?
a) the Advisory Committee on Restrictive Practices and Monopolies
b) the European Chamber of Commerce
c) the European Parliament
d) the European Commission
Q:
What do the antitrust laws of the US and EU have in common?
a) Both laws have per se offenses.
b) Both rely frequently upon voluntary approaches to regulation.
c) Neither allows defenses such as economic consequences.
d) Both aim at promoting competition.
Q:
Which of the following is true about the antitrust law of the European Union?
a) The EU law allows defenses, such as economic consequences, not explicitly provided for under United States law.
b) Article 101 of the TFEU deals with unilateral actions.
c) Article 102 of the TFEU refers to group activities that may limit competition or constitute a barrier to trade among member states.
d) The basic antitrust law of the European Union is found in Sections 1 and 2 of the Sherman Act.
Q:
The ________ is an advisory body whose members represent employees, employers, farmers, trades, and other interests.
a) Committee of Permanent Representatives
b) European Economic and Social Committee
c) European Chamber of Commerce
d) Advisory Committee on Restrictive Practices
Q:
The ________ applies the law established by the Court of Justice, and its decisions may be appealed to the higher court.
a) Committee of Permanent Representatives
b) European Council
c) Council of Ministers
d) General Court
Q:
The ________ has the authority to overturn decisions that conflict with the EU treaties.
a) European Commission
b) Court of Justice
c) Council of Ministers
d) European Parliament
Q:
The EU operates under the principle of ________, which is the intention to accomplish as much as possible at the level of the member states.
a) mutual recognition
b) subsidiarity
c) comitology
d) harmonization
Q:
Regulations of the European Union are legally binding on the member states and are enforced by the ________.
a) European Commission
b) European Parliament
c) Council of Ministers
d) Court of Justice
Q:
Council decisions involving foreign and security policy require ________.
a) qualified majority
b) double majority
c) unanimity
d) partial consensus
Q:
Before the Council of Ministers considers proposals, the ________ appoints an ad hoc working party composed of government officials from the member states.
a) European Commission
b) Committee of Permanent Representatives
c) Council of Financial Affairs
d) Court of First Instance
Q:
The ________ is the principal legislative institution of the European Union.
a) European Commission
b) Court of Justice
c) Council of Ministers
d) European Parliament
Q:
The European Commission is responsible for ________.
a) trade negotiations and managing the EU budget
b) negotiating informal agreements between member states prior to council deliberations
c) appointing ad hoc working parties composed of government officials from the member states
d) hearing cases related to the various treaties of the European Union
Q:
The ________ is the executive and administrative body of the European Union.
a) European Commission
b) European Parliament
c) EU Court of Justice
d) Council of Ministers
Q:
The adoption of the ________ made human and civil rights enforceable by the European Union.
a) Charter for Fundamental Rights
b) Common Agricultural Policy
c) State Aid Directive
d) Maastricht Treaty
Q:
The Single European Act represented a major step toward ________ within the
Union.
a) political segregation
b) cultural assimilation
c) ethnic compartmentalization
d) economic integration
Q:
The European Union took two approachesharmonization and mutual recognitionto remove internal barriers to trade. Harmonization refers to the ________.
a) formation of a single executive body to maintain the markets of member states
b) development of a single centralized administration
c) development of a common set of policies for all member states
d) synchronization of markets in Eurasia
Q:
The Single European Act mandated the realization of a single market which involved the removal of three types of barriers: physical, technical, and fiscal. The removal of physical barriers pertained to ________.
a) restricting the entry of people
b) eliminating customs and other goods inspections
c) prohibiting individuals from working in any member state
d) deposing dictatorial governments
Q:
With the rise in the powers of the EU institutions, the governments of the member
states have ceased to be the focus of nonmarket activity.
Q:
Lobbying is the principal nonmarket strategy for influencing the EU institutions.
Q:
The Single European Act increased the political power of the governments of the member states relative to the power of the EU institutions.
Q:
Under the principle of subsidiarity, the member states are responsible for health care and can institute their own price controls.
Q:
The European Commission initiates legislation in the form of drafts that are circulated for comments before the legislative process begins.
Q:
In a corporatist structure, unions and businesses have peak organizations that advise the government and negotiate on policy.
Q:
The policies of the European Union and the United States are very similar on matters pertaining to the protection of personally identifiable information.
Q:
The European Union uses the precautionary regulation more readily than the United States.
Q:
The European Union requires works councils or a consultative process between management and workers, or social partners in the terminology of European Union.
Q:
The EUs Common Agricultural Policy provides a vision for the free circulation of labor and the rights to fair wages, improvement of living and working conditions; social security and equal treatment for men and women.
Q:
State aids are subsidies paid by the European Union to their member states.
Q:
Merger review by the European Commission is based solely on the extent of inflation.
Q:
In terms of remedies, the European Commission is limited to imposing fines and supervising conduct.
Q:
The biggest advantage of the euro system was that the ECSB could control monetary policy, while the member states controlled their own fiscal policies.
Q:
The antitrust policy is the centerpiece of competition policy, and this section addresses EU antitrust law and its administration.
Q:
The ordinary legislative procedure of the EU is said to be unicameral, since it only requires the approval of the Council of Ministers.
Q:
The EUs consultation procedure is used for decisions pertaining to the admission of new member states, international agreements, and the structure of the European Central Bank.
Q:
The European Economic and Social Committee is an advisory body whose members represent employees, employers, farmers, trades, and other interests.
Q:
The European Parliament (EP) does not have the power of democratic supervision.
Q:
Decisions made by the European Union are legally binding but pertain only to the parties identified in the decision.
Q:
Directives issued by the European Union are legally binding with respect to the result sought, but national governments are responsible for how the result is achieved.
Q:
Before the enactment of the SEA, Council decisions were governed by a unanimity rule.
Q:
The Council of Ministers consists of two ministers from each state and the nations have equal voting weight.
Q:
In situation where national laws have been harmonized with EU law, EU law takes precedence when a conflict arises.
Q:
The European Union was established because Europeans recognized the need to fortify country borders and strengthen military bases after World War II.
Q:
The Political Economy of the European Union
Q:
The distributive objection to products liability is that ________.
a) it is inequitable to assess damages to firms when there was nothing they could have done to prevent the injury
b) a reduction in the liability of retailers is likely to have negative consequences for businesses
c) the awards in many cases are too large and seem to provide a prize, as in a lottery, rather than providing compensation for actual losses
d) the awards in cases decided on the basis of fault and negligence are mostly inadequate
Q:
The products liability system has been criticized on equity, distributive, and efficiency grounds. The equity arguments often express a belief that ________.
a) state-of-the-art design should not be an acceptable defense in cases governed
by strict liability
b) damages awarded for pain and suffering should ideally be guided by legal standards
c) the awards in many cases are insufficient and should be made significantly
larger to compensate for actual losses
d) cases should be decided on the basis of fault and negligence
Q:
One of the reform measures proposed by the American Tort Reform Association is to have punitive damage awards paid to the ________.
a) plaintiff
b) defendant
c) public
d) government
Q:
Under which of the following situations are courts most likely to assess comparative damages for cases?
a) when the producer is unable to compensate for the damage caused
b) when the consumer cannot prove that the damage occurred
c) when both the producer and consumer are from different states
d) when both the producer and the consumer are responsible for the injury
Q:
In most jurisdictions, products liability cases are covered by a ________, which is often 4 years.
a) statute of limitations
b) statute of autonomy
c) statute of compensation
d) statute of frauds
Q:
Which of the following is true with regard to strict liability?
a) The rationale for strict liability is to insure the manufacturers against unfair competition.
b) Under strict liability the concept of fault is irrelevant and negligence is not required.
c) A defense that a firm used state-of-the-art design is likely to prevail when a standard of strict liability is applied.
d) Strict liability does not apply to manufacturing defects.
Q:
________ is/are made in writing by the producer and, as part of the sales agreement, represent(s) obligations binding on the producer.
a) Privity of contract
b) Implicit guarantees
c) Express warranties
d) Writs of assistance
Q:
Which of the following is true with regard to products liability law?
a) Products are held to have an implied warranty of merchantability.
b) The common law of products liability has changed very little since the 1950s.
c) Products liability cases that are litigated are not considered as legal precedents for future cases.
d) The law pertaining to product safety developed from the laws of property and entitlements.
Q:
The law pertaining to product safety developed from ________, which focus on economic well-being.
a) the laws of contracts and warranties
b) the laws of property and entitlements
c) the statute of limitations
d) eminent domain
Q:
________ refers to a liability rule that permits the state to take a home for a public purpose and requires the state to compensate the owner for its objectively assessed value.
a) Entitlement domain
b) Eminent domain
c) Punitive damage
d) Compensatory damage
Q:
When an entitlement is protected by ________, a person may infringe the entitlement but must compensate its holder for the objectively assessed harm resulting from that infringement.
a) a property rule
b) a liability rule
c) a norm
d) canon law
Q:
In the United States and in other countries, the ________ is the principal institution which guides producers and consumers in most product safety decisions.
a) licensing system
b) warranty system
c) institution of liability
d) institution of regulation
Q:
The principal and most comprehensive source of institutional guidance on safety is the law of ________.
a) contracts
b) warranties
c) property
d) torts
Q:
Specific performance is a form of relief provided by courts for cases in which ________.
a) there is more than one party responsible for the injury received
b) firms are unable to pay damages because they have filed for bankruptcy
c) the government is implicated in the plaintiffs lawsuit
d) it is difficult to determine the actual damages incurred as a consequence of a breach
Q:
Court awards of damages take place ex post, and anticipation of those awards provides ex ante incentives to fulfill promises, while leaving the flexibility to breach contracts when it is efficient to do so. The parties to a contract may also write into the contract contingencies in the event of breach. This liquidated damages approach is ex ante and is based on the principle that ________.
a) damages are intended as penalties for particular actions
b) damages should not be limited to compensation for harm
c) more complete contracts can be more efficient
d) the misuse of a product should be anticipated in advance
Q:
One of the rules used by the court for awarding damages is to put the promisee in the same position she had been in prior to signing the contract. This rule corresponds to ________.
a) consequential damages
b) reliance damages
c) liquidated damages
d) primary damages
Q:
________ are based on the opportunity cost of the next best alternative.
a) Consequential damages
b) Reliance damages
c) Liquidated damages
d) Primary damages
Q:
Which of the following is true with regard to contracts?
a) A contract is an agreement that has no scope for bargaining.
b) In a contract both parties seek assurances.
c) Contracts are rarely entered into to induce reliance.
d) Contracts do not cover promises to take particular actions in the future.
Q:
Which of the following is a requirement for a trademark?
a) distinctiveness
b) strict adherence to generic expressions
c) strict adherence to fanciful expressions
d) similitude
Q:
A ________ allows the recipient to restrict the use, reproduction, and distribution of his/her work of original expression.
b) license
c) label
d) brand
Answer: A
Q:
Which of the following makes an invention available to others and also allows the discoverer to appropriate returns?
a) trademarking
b) branding
c) licensing
d) franchising
Q:
A(n) ________ may be granted for an invention of any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof.
a) trademark
b) patent
c) industrial design right
Answer: B
Q:
Which of the following is a feature of property rules?
a) Property rules provide incentives to create assets.
b) Property rules inhibit bargaining.
c) Property rules pose considerable difficulties in the way of economic transactions.
d) Property rules prevent gains from trade to be realized.