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The WTO administers trade agreements but does not get involved with dispute resolution.

A) True
B) False

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"Normal value" is the price that would be charged for the same or a similar product in the ordinary course of trade for domestic consumption in the exporting country, under the World Trade Organization's:


A) tariff regulations.
B) nontariff barrier.
C) Antidumping Code.
D) export controls.

E) All of the above
F) B) and C)

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The General Agreement on Tariffs and Trade (GATT) :


A) attempts to limit the practice of "dumping."
B) is a general international antitrust agreement.
C) seeks to prohibit discrimination on import regulations and prevent export fees and export quotas through the mechanism of the "most-favored nations" status.
D) has successfully rid international trade of tariffs.

E) A) and C)
F) B) and C)

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Sovereign immunity is absolute immunity from the courts of a host country.

A) True
B) False

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The CISG specifically excludes sales of which of the following?


A) Goods bought for personal, family, or household use.
B) Ships or aircraft.
C) Electricity.
D) All of these are specifically excluded.

E) B) and D)
F) B) and C)

Correct Answer

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