Question 1

The ______ of 1977 was designed to prohibit the payment of any money or anything of value to foreign officials, foreign political parties, or any candidate for foreign political office for purposes of obtaining, retaining, or directing business.

Accepted Answer

The correct answer is the Foreign Corrupt Practices Act of 1977, which was enacted to prevent companies from bribing foreign officials to gain a business advantage.

Question 2

Technically speaking, there is no enforceable body of international law.

Accepted Answer

International law is not codified in a single document and there is no central authority to enforce it.

Question 3

One of the problems with a multiple party governmental system is a lack of political stability and continuity.

Accepted Answer

Multiple party systems often lead to coalition governments, which can be less stable and have difficulties in maintaining continuity in policies due to the need to reconcile diverse political agendas.

Question 4

Export license requirements are supply-based trade controls.

Accepted Answer

The answer of Export license requirements are supply-based trade controls....

Question 5

The _____ was designed to prohibit the payment of any money or anything of value to foreign officials, foreign political parties, or any candidate for foreign political office for purposes of obtaining, retaining, or directing business.

Accepted Answer

The Foreign Corrupt Practices Act (FCPA) was specifically designed to prevent the bribery of foreign officials for the purpose of obtaining or retaining business. It prohibits U.S. companies and individuals from paying bribes to foreign officials, political parties, or candidates for political office.

Question 6

The "buy domestic" policy orientation is not limited to the United States.

Accepted Answer

Many countries around the world adopt "buy domestic" policies to support their own industries, economies, and employment, not just the United States.

Question 7

In the United States, the organization that seeks to help firms considering exports to other countries is the International Trade Agency (ITA).

Accepted Answer

The correct organization is the International Trade Administration (ITA), which is part of the U.S. Department of Commerce.

Question 8

The _____ is the oldest and most comprehensive international copyright treaty.

Accepted Answer

The Berne Convention, established in 1886, is the oldest and most comprehensive international treaty concerning copyright protection, offering protection for works and rights of authors in the countries that are part of the convention.

Question 9

The ______ strengthened the U.S.antitrust arsenal by prohibiting trade practices that were not covered in previous legislation.It outlawed exclusive dealing and price discrimination.

Accepted Answer

The Clayton Act specifically addressed practices not covered by the Sherman Act, including exclusive dealing contracts, price discrimination among purchasers, and certain types of mergers and acquisitions that could reduce competition.

Question 10

Under strict socialism, the government owns and manages all businesses and no private ownership is allowed.

Accepted Answer

The answer of Under strict socialism, the government owns and...

Question 11

The Group of 7 (or G-7) is made up of France, Germany, Italy, England, Canada, Japan, and the United States.

Accepted Answer

The Group of 7 (G-7) indeed consists of these seven major advanced economies: France, Germany, Italy, the United Kingdom (referred to as England in the question, but more accurately the UK), Canada, Japan, and the United States.

Question 12

In the United States, the _______ (DMCA) bans any efforts to bypass software that protects copyrighted digital files.

Accepted Answer

The correct answer is B) Digital Millennium Copyright Act. The DMCA is a 1998 United States copyright law that criminalizes production and dissemination of technology, devices, or services intended to circumvent measures that control access to copyrighted works.

Question 13

The _____ Copyright Treaty is a recent development in international copyright protection established with 89 member countries in 1996.This treaty addresses copyright protection in the internet era protecting the rights of authors of literary and artistic works distributed within the digital environment.

Accepted Answer

The correct answer is the WIPO Copyright Treaty, which was established by the World Intellectual Property Organization in 1996 to address copyright protection specifically for the digital environment.

Question 14

A host country refers to a country the parent company is based in and operates from.

Accepted Answer

A host country is the country where a multinational company operates a facility or office but is not headquartered. The parent company is based in the "home country," not the host country.

Question 15

The Coordinating Committee for Multilateral Controls (COCOM) was founded after the Cold War in the 1990s.

Accepted Answer

COCOM was established in 1949 during the early stages of the Cold War to control the export of strategic materials and technology to the Soviet Union and its allies.

Question 16

The ______ encourages firms to join forces to improve their export performance by exempting them from antitrust laws.This act was patterned after similar legislation in Japan and Germany.

Accepted Answer

The Export Trading Company Act encourages firms to collaborate to enhance their export performance by providing them an exemption from antitrust laws, inspired by similar legislation in Japan and Germany.

Question 17

The international treaty (convention) established in 1883 that explains international protection rights of intellectual property (such as how long one has to file for property protection in foreign countries) is called:

Accepted Answer

The Paris Convention, established in 1883, sets out the rules for international protection of intellectual property rights, including the time frame for filing for protection in foreign countries.

Question 18

Both capitalistic and socialistic countries in which government planning and ownership play a major role are also referred to as planned economies.

Accepted Answer

In planned economies, the government directs the economy, which can occur in both socialistic countries (where the government may own means of production) and in some forms of capitalistic countries that adopt significant government planning and intervention in the economy.

Question 19

The _____ antitrust laws are applied not only to _____ -member country companies but also to foreign companies as long as their corporate action has antitrust implications within the _____ community.

Accepted Answer

The European Union (EU) antitrust laws are applied to both EU-member country companies and foreign companies if their actions affect competition within the EU market. This is part of the EU's efforts to ensure fair competition and prevent monopolies or anti-competitive practices that could harm consumers and the economy within its single market.

Question 20

The ______ specifically forbade every contract, combination, or conspiracy to restrain free and open trade.

Accepted Answer

The Sherman Act, enacted in 1890, was designed to combat anticompetitive practices, reduce market domination by individual corporations, and preserve unfettered competition as the rule of trade. It specifically targets and prohibits every contract, combination, or conspiracy in restraint of trade.

Quiz 5: Political and Legal Environment