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Exam 17: International Law and Business

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Question 41

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Which of the following statements is true regarding arbitration?

A) The rules governing arbitration proceedings are more restrictive than court proceedings.
B) Arbitration is rarely used for dispute resolution.
C) The cost of arbitration is more than that of litigation.
D) It can be structured in almost any way that accommodates the needs of the parties. Rules governing arbitration proceedings are far less restrictive than court proceedings, and generally, the cost of arbitration is much less than litigation.

E) B) and D)
F) A) and B)

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Question 42

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Discuss characteristics of nongovernmental organizations.

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Nongovernmental organizations operate in...

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Question 43

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Grey market goods are counterfeit goods manufactured in the United States.

Rules governing arbitration proceedings are less restrictive than rules governing court proceedings.

Explain with an example, implications of cultural differences in international business.

Which of the following acts prohibits U.S. companies and citizens from bribing public officials to keep or obtain business?

The International Monetary Fund (IMF) is a nongovernmental organization.

Discuss the functions performed by the International Trade Administration (ITA).

The ambassador of the Office of the U.S. Trade Representative (USTR) serves as:

This organization is an independent agency that provides trade expertise to the legislative and executive branches of government. It advises the President and investigates issues such as the balance of trade between imports and exports, the economic impact in the United States of any proposed trade agreements, and effects of foreign competition on the United States. It can impose countervailing duty on products determined by the International Trade Administration to harm domestic manufacturers. Identify the organization in discussion.

Which of the following countries is the world's largest trading nation?

The BIS is charged with the development, implementation, and interpretation of U.S. export control policy for purely commercial commodities, dual-use commodities, software, and technology. In this context, a dual use commodity is one which has commercial but also _____ applications.

The seller retains title when dealing with an export trading company.

Discuss the significance of the countervailing duty.

The Office of the U.S. Trade Representative (USTR) is part of the executive Office of the President.