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Multiple Choice Quiz
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1
The tax laws of different countries have been somewhat standardized by:
A)international chambers of commerce.
B)tax conventions.
C)the Paris Union.
D)the Berne Union.
2
Value Added Tax (VAT):
A)is a major revenue source for the U.S. government.
B)can be rebated under WTO regulations when a product is exported.
C)is unconstitutional.
D)cannot be raised or lowered under WTO regulations to balance desired income with the burden.
3
Income earned abroad by U.S. citizens:
A)incurs a tax liability as if they were resident in the U.S., with some adjustment.
B)incurs tax liability only on the portions earned in the U.S.
C)incurs no tax liability.
D)is taxed only on the portion of income allocated to consumption.
4
Under American antitrust laws, illegality per se means illegal:
A)for extraterritorial conspiracies.
B)for conspiring across international boundaries.
C)for conspiracies concerning strategic products.
D)even though no injury or damage results from the conspiracies.
5
In product liability lawsuits under American law, that applies the rule of strict liability,
A)it is difficult for a plaintiff to win.
B)a defendant can be found guilty even though no negligence or fault by the defendant has been shown.
C)punitive damages can not be awarded.
D)a jury trial is not available.





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