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Multiple Choice Quiz
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1
The increasing volume of international trade and tourism, the globalization of the marketplace, the growing incidence of multinational business organizations, and cultural exchanges have given rise to the need for:
A)interpretation of statutes.
B)foreign law.
C)trade union law.
D)international law.
2
______________ is the broad study of the legal systems of major countries, treaties, practices, tariffs and nontariff trade barriers, and import and export quotas.
A)International law
B)Interpretation of Statutes
C)Foreign law
D)Federal law
3
The philosophy of Roman international law controlling trade and commerce in a peaceful way came to be known as:
A)Max Roman.
B)Romana law.
C)Pax Romana.
D)Roman Philosophy.
4
In modern times, customary practices and treaties are the major sources of international law and these are recognized in the:
A)Statute of the European Court of Justice.
B)Statute of the International Court of Justice.
C)International Labour Organization.
D)Supreme Court of the United States.
5
The principle of law that holds that the courts of one country should refrain from deciding cases involving the acts of persons from another country, is known as the doctrine of:
A)comity.
B)triviality.
C)commune.
D)velocity.
6
All of the following are transnational institutions EXCEPT the:
A)Foreign Corrupt Practices Association.
B)World Trade Organization.
C)International Monetary Fund.
D)World Bank.
7
Trade among nations remains a vital ingredient to the economic health of the world's population. While countries are sovereign and create and interpret their own sets of laws, the goal is that trade be governed by:
A)nongovernmental organizations.
B)international organizations.
C)trade unions.
D)transnational institutions.
8
In 1947, an international agreement was entered into by a multitude of nations, called the:
A)North American Free Trade Agreement.
B)World Trade Organization.
C)General Agreement on Tariffs and Trade.
D)International Monetary Fund Agreement.
9
The commission or organization that is responsible for overseeing the implementation of all multinational trade agreements negotiated now or in the future is known as the:
A)North American Free Trade Organization.
B)World Trade Organization.
C)General Agreement on Tariffs and Trade.
D)International Monetary Fund.
10
The organization with responsibility to maintain a stable environment for the economies and the currencies of its members is the:
A)World Trade Organization.
B)International Monetary Fund.
C)General Agreement on Tariffs and Trade.
D)North American Free Trade Agreement.







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