1. International laws primarily differ from U.S. laws in which of the following respects? Choose 3 answers.

a. how the law is created

b. who is bound by the law

c. who can interpret the law

d. how long the law is effective

2. When a U.S. employer does business abroad, whose laws govern the business?

a. only U.S. law that has been approved as a treaty b. both U.S. law and the foreign nations law c. only the foreign nations law d. The business may choose U.S. law or the host nations law.

3. How are tariffs used to control imports?

a. Tariffs are used to punish a foreign country that expropriates a U.S. companys assets in the foreign country. b. Tariffs place a limit on the number of goods that can be imported. c. Tariffs are used to invest in certain goods that will aid in domestic economic interests. d. Tariffs increase the cost of a product by taxing the importation.

4. A common law system differs from a civil law system in which of the following ways?

a. A common law system relies primarily on case law. b. A common law system is based on a constitution and statutory law. c. Due to stare decisis, courts in a common law system have less flexibility than in a civil law system. d. In a common law system, legislative enactments are more binding than case law.

5. For an international arbitration to take place under the New York Convention, which of the following must be true? Choose 2 answers.

a. Any nation may conduct the arbitration. b. The arbitration may include any number of parties from any signatory nation. c. The agreement to arbitration clause arises out of a commercial legal relationship. d. The parties must have a written agreement for arbitration.

6. International organizations, such as the United Nations, provide regulatory guidance to their member nations through: (Choose 2 answers.)

a. the comity doctrine. b. the act of state doctrine. c. the establishment of uniform rules. d. the adoption of standards.